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July-Nov RMG exports to EU grow 16.27pc

Published : 19 Dec 2022 10:37 PM | Updated : 20 Dec 2022 02:59 PM

The export of RMG items to European Union (EU) has witnessed 16.27 percent growth during the July-November period of this year compared to the same period last year.

As per the statistics of the Export Promotion Bureau (EPB), RMG export to the EU increased by 16.27 percent, from US$ 7.81 billion to $9.07 billion in July-Nov 2022-23. 

Germany is the largest European market fetching $ 2.71 billion with 1.88 percent growth compared to the same period of the previous year. 

Export to Spain and France also increased by 19.15 percent and 38.87 percent respectively. Export to other major EU countries such as Italy, Austria, Netherlands and Sweden have shown growth by 50.95 percent, 48.87 percent, 34.39 percent and 22.90 percent respectively. On the other hand, export to Poland has shown 19.61 percent year-over-year negative growth during the mentioned period. 

Talking to BSS, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director MdMohiuddinRubel said, "Our exports to major countries have shown encouraging growth during July-November of FY2022-23."

He said RMG export to the USA during the mentioned period was $3.47 billion, registering 4.07 percent Y-O-Y growth. 

"Besides, our exports to UK and Canada have grown by 11.71 percent and 30.25 percent respectively compared to the same time of the previous fiscal year. At the same time, export to non-traditional markets increased to $ 3.19 billion from $ 2.47 billion in the same period of time," he added. 

Among the major non-traditional markets, he mentioned that Bangladesh's export to Japan reached 597.83 million dollars with 38.11 percent Y-O-Y growth during July-Nov of FY2022-23. 

The other non-traditional markets having high growth were Malaysia 100.21 percent, Mexico 49.68 percent, India 48.78 percent, Brazil 44.53 percent, and South Korea 30.35 percent, he added.

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