RMG export to the European Union has reached US$ 13.92 billion from July-January of the Fiscal Year (FY) 2023-24, according to the Export Promotion Bureau (EPB).
With an increase of 1.32 per cent compared to the same period of previous FY, the export to Spain, France, Netherlands and Poland showed 6.05 per cent, 4.25 per cent, 11.77 per cent and 20.30 per cent growth respectively.
However, local apparel exports to Italy declined by 1.81 per cent.
On the other hand, Germany, the largest export market in the EU, reduced its import by 13.46 per cent with an amount of $3.51 billion compared to July-January 2022-23.
The RMG export to the USA declined by 3.90 per cent with $4.79 billion in the first seventh months of FY 2023-24.
At the same time, exports to the UK and Canada reached $ 3.31 billion and $871.27 million in FY 2023-24, showing an increase by 12.98 per cent and 0.68 per cent respectively.
During July-January of the FY 2023-24, the apparel export to non-traditional markets went up by 11.69 per cent to $5.46 billion from $4.89 billion in the corresponding period of previous year.
Among the major non-traditional markets, exports to Japan, Australia and South Korea increased by 8.74 per cent, 23 per cent and 17.57 per cent respectively. However, the apparel exports to India declined by 21.86 per cent.
