RMG exports to EU grow 15pc in July-Jan

The European Union’s (EU) apparel imports from Bangladesh saw 15.04 percent growth during July-January of fiscal 2022-23, $13.73 billion from $11.94 billion in July-Jan FY22, according to the Export Promotion Bureau (EPB).

Germany being the largest European market fetched $4.06 billion with only 0.83 percent growth compared to the same period of the previous year.

Export to Spain and France also increased by 18.18 percent and 18.74 percent, respectively.

Exports to other major EU countries such as Italy, Austria, the Netherlands and Sweden showed growth of 57.50 percent, 32.93 percent, 32.41 percent and 23.28 percent, respectively.

However, exports to Poland showed 17.79 percent year-over-year negative growth during the mentioned period.

RMG export to the US during the mentioned period fell by 1.98 percent compared to the same period in FY22.

“Bangladesh’s exports to the US reached $4.98 billion during July-Jan of FY23. Our exports to the UK and Canada grew by 14.47 percent and 19.25 percent, respectively, compared to the same time of the previous fiscal year,” Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Md Mohiuddin Rubel said.

“At the same time, exports to the non-traditional markets increased to $4.89 billion from $3.67 billion in the same period. Among the major non-traditional markets, our export to Japan reached $920.26 million with 45.92 percent year-on-year growth during July-Jan of FY23.”

The other non-traditional markets having high growth were Malaysia 92.77 percent, Mexico 42.70 percent, India 58 percent, Brazil 64.14 percent, and South Korea 37.39 percent, Rubel added.