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Apparel exports to EU leaps

Published : 28 Feb 2023 10:26 PM | Updated : 01 Mar 2023 01:05 PM

Bangladesh's apparel exports to the European Union increased by 15.04 percent from USD 11.94 billion to USD 13.73 billion while apparel exports to the United States decreased. 

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Md Mohiuddin Rubel confirmed this information to Bangladesh Post. 

He said, "As per the statistics of Export Promotion Bureau (EPB), during July-January of FY 2022-23, our apparel export to the European Union increased by 15.04 percent, that is to USD 13.73 billion from USD 11.94 billion in July-Jan 2021-22."

According to EPB data, Germany being the largest European market fetched USD 4.06 billion with only 0.83 percent growth compared to that in 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, Netherlands and Sweden have shown growth by 57.50 percent, 32.93 percent, 32.41 percent and 23.28 percent respectively. On the other hand, exports to Poland have shown 17.79 percent year-over-year negative growth during the mentioned period, EPB data showed further. 

On the other hand, RMG export to the USA during the mentioned period declined by 1.98 percent compared to that in the same period in FY 2021-22.  

"Our exports to the USA reached USD 4.98 billion in July-Jan 2022-23. On the other hand, our exports to the United Kingdom and Canada have grown by 14.47 percent and 19.25 percent respectively compared to the same time of previous fiscal year," said Mohiuddin Rubel. 

At the same time, exports to the non-traditional markets increased to USD 4.89 billion from USD 3.67 billion in the same period of time, he added further. 

Among the major non-traditional markets, our export to Japan reached USD 920.26 million with 45.92 percent year on year growth during July-Jan of FY2022-23. 

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.

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