The US continues to be the single largest export destination for Bangladesh’s garment items, accounting for 21.28 percent of the shipments in 2015.The shipments to the American market fetched $5.66 billion of the sector’s $26.6 billion export earnings last year, according to data from the Export Promotion Bureau. Garment exports to the US rose 13 percent year-on-year in 2015.The European Union, the trade bloc of 28 nations, accounted for 59.73 percent of the shipments last year, raking in $15.9 billion.Country-wise in the EU, garment exports to Germany brought in $4.36 billion, the UK $3.32 billion, Spain $1.73 billion, France $1.63 billion, and Italy $1.24 billion, among others.Apparel export growth to non-traditional markets was also noticeable in 2015.The share of non-traditional markets in the garment sector’s export earnings now stands at 15.29 percent, which was only 7 percent in 2009.In 2015, garment products worth $4.07 billion were sent to the non-traditional markets.Exports to Australia have also grown significantly, 32.09 percent year-on-year.Faruque Hassan, vice-president of Bangladesh Garment Manufacturers and Exporters Association, said the second half of 2015 was good for the sector.Although 2015 started on a dismal note, an 8.21 percent export growth was registered in the end, he said, adding that the devaluation of the euro negatively impacted earnings.A few East European countries such as Bulgaria, Czech Republic and Malta are looking promising.“In fact, exploring the non-traditional markets and enhancing exports are strategically important for us to ensure sustainable growth of the industry,” he added.In 2015, Bangladesh’s export receipts stood at $32.39 billion.
