RMG exports to the United States, the largest export destination for Bangladesh, has increased by 6.31 per cent in July of fiscal 2023-24 to $ 729.03 million, from $ 685.77 million in July 2022-23, according to recent statistics of the Export Promotion Bureau (EPB).
"During the first month of the fiscal year 2023-24, our clothing export to the EU market grew by 17.40 per cent to $ 1.95 billion from $ 1.66 billion in the same period of last fiscal year,” said BGMEA Director Mohiuddin Rubel.
He said that the progress is consistent with the exports surge to major European markets such as Spain, France, Italy, the Netherlands and Poland which grew by 36.35 per cent, 22.71 per cent, 36.75 per cent, 23.03 per cent and 18.07 per cent respectively.
"However, our export to Germany, the second largest export destination for Bangladesh, saw 0.70 per cent year-over-year negative growth and reached $ 514 million. At the same time, exports to Finland, Cyprus, Czech Republic, Estonia, Lithuania, Malta, and Slovakia have declined significantly," he added.
During July, FY 2023, exports to the UK and Canada reached $ 475.54 million and $ 128.89 million, with 29.78 per cent and 14.78 per cent year-on-year growth respectively.
At the same time, apparel exports to the non-traditional markets also increased by 23.75 per cent and reached $ 674.82 million.
Among the major non-traditional markets, exports to Japan, Australia, India and South Korea increased by 49.99 per cent, 55.73 per cent, 2.60 per cent and 19.59 per cent respectively, the letter reads.
