RMG export to EU rises 3.27 pc in eight months
Staff Correspondent
Bangladesh’s readymade garments (RMG) export to the European Union (EU) reached US$ 16.23 billion, with increased by 3.27% during July-February of FY2023-24 compared to the same period of the previous fiscal year, EPB data shows.
The Export Promotion Bureau (EPB) data also cited that the country’s export to Spain, France, Netherlands, Poland and Denmark showed 8.68%, 4.72%, 14.55%, 21.82% and 32.81% growth respectively. Thought apparel exports to Italy declined by 0.93% in the same period.
On the other hand, exports to Germany, the largest export market in the EU, declined by 11.63% with an amount of US$ 4.09 billion compared to the July-February 2022-23, the data also showed.
Meanwhile, RMG exports to the USA reached US$ 5.46 billion in the first eight months of FY2023-24 with declined by 2.58 %.
At the same time, Bangladesh’s apparel exports to the UK and Canada reached US$ 3.85 billion and US$998.77 million in FY2023-24 with increased by 14.64 % and 1.81% Y-O-Y growth respectively.
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Mohiudddin Rubel said that during July-February of FY 2023-24, the apparel export to non-traditional markets grew by 10.83% to US$ 6.30 billion from US$ 5.68 billion in the corresponding period of the previous year.
Among the major non-traditional markets, exports to Japan, Australia and South Korea increased by 7.12%, 21.29% and 17.16% respectively. However, our apparel export to India declined by 22.99%, he also informed.
