RMG exports to EU post 15.04pc growth in July-Jan

Bangladesh apparel export to the European Union's (EU) market saw 15.04 per cent growth during July-January of fiscal 2022-23.

As per the Export Promotion Bureau (EPB), the apparel export increased to US$13.73 billion during July-January of fiscal 2022-23 from $11.94 billion in July-January FY22.

Germany, being the largest European market, fetched $4.06 billion with only 0.83 per cent growth compared to the same period of the previous year, reports BSS.

Export to Spain and France also increased by 18.18 per cent and 18.74 per cent respectively, said a press release.

Exports to other major EU countries such as Italy, Austria, the Netherlands and Sweden showed growth of 57.50 per cent, 32.93 per cent, 32.41 per cent and 23.28 per cent, respectively.

However, exports to Poland showed 17.79 per cent year-over-year negative growth during the mentioned period.

RMG export to the US during the mentioned period fell by 1.98 per cent compared to the same period in FY22.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Md Mohiuddin Rubel, said, "Bangladesh's exports to the US reached $4.98 billion during July-Jan of FY23.

"Our exports to the UK and Canada grew by 14.47 per cent and 19.25 per cent, respectively, compared to the same time of the previous fiscal year,"

"At the same time, exports to the non-traditional markets increased to $4.89 billion from $3.67 billion in the same period. Among the major non-traditional markets, our export to Japan reached $920.26 million with 45.92 percent YoY growth during July-January of FY23.''

The other non-traditional markets having high growth were -- Malaysia 92.77 per cent, Mexico 42.70 per cent, India 58 per cent, Brazil 64.14 per cent, and South Korea 37.39 per cent, Rubel added.