Accra:Spain has surpassed Germany to become the largest European Union destination for Bangladesh's ready-made garments, according to Export Promotion Bureau (EPB) data.
According to Bangladesh Sangbad Sangstha, in the first quarter of the fiscal year 2026-27, Bangladesh exported apparel worth $1,148.46 million to Spain, marking a 13.73% increase from the $1,009.84 million recorded in the same period the previous year. Spain's share of Bangladesh's EU apparel exports during this period rose to 23.42%.
Germany, previously the leading EU market for Bangladesh's apparel, slipped to second place with exports totaling $1,122.98 million, a slight 0.15% decline from $1,124.70 million the previous year. Germany's market share stood at 22.90%. Last year, Germany led Spain by about $115 million for the quarter; this year, Spain leads by approximately $25 million.
In September alone, Spain maintained its lead with exports totaling $343.46 million, a 19.03% increase from the $288.55 million a year earlier, resulting in a 24.36% market share. In contrast, Germany's exports in September were $318.24 million, a 2.68% decrease, giving it a 22.57% share.
Other top markets for Bangladesh's apparel during this period included the Netherlands, with exports totaling $597.49 million, up 9.02% and accounting for a 12.18% share. In September, exports to the Netherlands were $157.60 million, up 10.58%. Meanwhile, exports to France reached $449.41 million, down 4.91% for a 9.16% share, with September exports decreasing by 3.88% to $145.87 million.
The five leading markets collectively accounted for approximately $3,720 million, or roughly 76% of Bangladesh's total apparel exports to the EU in the first quarter.
Overall, Bangladesh's apparel exports to the EU increased by 3.33% to $4,904.02 million in the July-September period, up from $4,746.10 million the previous year. September exports to the EU reached $1,410.11 million, a 5.53% increase from $1,336.21 million. However, exports to other EU countries fell by 2.24% to $1,183.76 million for the quarter.
Former BGMEA Director Mohiuddin Rubel highlighted the need for Bangladesh to diversify its export markets, develop high-value and non-cotton-based products, and comply with European Union regulations to sustain export growth in Europe. He noted that while Bangladesh's export performance in Europe has remained positive amid economic challenges, the country still falls short of its overall export growth target. Rubel emphasized the importance of meeting European due diligence requirements, energy-related standards, carbon policies, and other regulations to maintain competitiveness. He also expressed optimism about Bangladesh's potential to retain and expand its market share in Europe by improving domestic production capacity, addressing the energy crisis, and meeting the demands of European buyers.