RMG exports to EU hit $13.92b

Bangladesh's readymade garment export to the European Union (EU) reached $13.92 billion during the July-January period of the current fiscal year (FY2023-24) with a growth of 1.32 per cent, compared to the same period of FY2022-23.

As per the latest statistics of the Export Promotion Bureau (EPB), the country’s export to Spain, France, the Netherlands and Poland showed 6.05 per cent, 4.25 per cent, 11.77 per cent and 20.30 per cent growth, respectively, during the same period of FY24, reports BSS.

However, the apparel exports to Italy declined by 1.81 per cent.

On the other hand, export to Germany, the largest market of Bangladesh in the EU, declined by 13.46 per cent fetching $3.51 billion in the July-January period, compared to the same period of FY23.

EPB statistics showed that Bangladesh's RMG export to the United States reached $4.79 billion in the first seventh months of FY24 with a fall of 3.90 per cent.

At the same time, the country's export to the UK and Canada reached $3.31 billion and $871.27 million, respectively, during this seven-month period of FY24 with a growth of 12.98 per cent and 0.68 per cent, respectively.

Meanwhile, during the same period, the apparel export to non-traditional markets grew by 11.69 per cent to $5.46 billion, from $4.89 billion in the corresponding period of the previous year.

Among the major non-traditional markets, export to Japan, Australia and South Korea increased by 8.74 per cent, 23 per cent and 17.57 per cent, respectively.

However, apparel exports to India declined by 21.86 per cent, showed EPB data.