Bangladesh's apparel exports to the European Union (EU) increased by 16.61 per cent to $11.50 billion during the first half (July-December) period of the current fiscal year (FY23) compared to $9.87 billion fetched during the same period of the previous fiscal year (FY22).
Considering the major markets in the EU region as per the statistics of the Export Promotion Bureau (EPB), Bangladesh's exports to Germany grew by 3.54 per cent year-on-year reaching $3.45 billion.
The country's exports to Spain and France grew by 17.62 per cent and 33.08 per cent with an amount of $1.70 billion and $1.41 billion respectively during the first six months of the current fiscal year. On the other hand, exports to Poland declined by 18.43 per cent during the mentioned period.
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The ready-made garment (RMG) exports to the USA stood at $4.27 billion in the July-December period of FY23 with only 1.11 per cent year-on-year growth. At the same time, exports to the UK and Canada reached $2.39 billion and $774.16 million, with 11.89 per cent and 28.42 per cent growth respectively.
Apart from the traditional markets, the country's apparel exports to non-traditional markets grew by 32.19 per cent to $4.04 billion from $3.05 billion in the corresponding period of the previous year.
Among the non-traditional markets, exports to Japan reached $754.72 million with 42.54 per cent growth. Bangladesh's exports to India also increased significantly by 50 per cent, which is $548.89 million.
Talking to BSS, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Md Mohiuddin Rubel said that although the statistics have shown positive growth in RMG exports to the major countries, the growth has declined compared to the previous months of the current fiscal year.
"It indicates that the growth might be declined further in the coming months," he added.
