RMG exports to EU grow 16.27%

The export of RMG items to the European Union (EU) has witnessed a 16.27 per cent 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 per cent, from $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 per cent growth compared to the same period of the previous year.

Export to Spain and France also increased by 19.15 per cent and 38.87 per cent respectively. Export to other major EU countries such as Italy, Austria, Netherlands and Sweden have shown growth by 50.95 per cent, 48.87 per cent, 34.39 per cent and 22.90 per cent respectively.

On the other hand, export to Poland has shown 19.61 per cent year-over-year negative growth during the mentioned period.

Talking to BSS, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Md Mohiuddin Rubel 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 per cent year-on-year growth.

"Besides, our exports to UK and Canada have grown by 11.71 per cent and 30.25 per cent 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 per cent year-on-year growth during July-Nov of FY2022-23.

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