Bangladesh's RMG Exports to EU Surge: EPB Report

As per the latest statistics from the Export Promotion Bureau (EPB), during July-January, of FY 2023-24 our RMG export to the European Union (EU) reached US$ 13.92 billion, with an increase of 1.32% compared to the same period of the previous fiscal year.

The country's exports to Spain, France, Netherlands and Poland showed 6.05%, 4.25%, 11.77% and 20.30% growth respectively. However, the apparel exports to Italy declined by 1.81%.

On the other hand, Germany the largest export market in the EU declined by 13.46% with an amount of US$ 3.51 billion compared to the July-January 2022-23.

Bangladesh's RMG export to the USA reached US $ 4.79 billion in the first seven months of FY2023-24 with a decline of 3.90 %.

At the same time, the country's exports to the UK and Canada reached US$ 3.31 billion and US$871.27 million in FY2023-24 with increases of 12.98 % and 0.68% Y-O-Y growth respectively.

During July-January, of FY 2023-24, our apparel export to non-traditional markets grew by 11.69% to US$ 5.46 billion from US$ 4.89 billion in the corresponding period of the previous year.

Among the major non-traditional markets, exports to Japan, Australia and South Korea increased by 8.74%, 23% and 17.57% respectively. However, our apparel export to India declined by 21.86%.