Bangladesh’s export to non-traditional markets increased by 37.90%
The export of apparel products to neighbouring India has increased by 99% year-on-year in the first two months of the current FY23.
Bangladesh exported $188 million worth of garments to India in July and August this year, up from $94 million last fiscal, according to the Export Promotion Bureau (EPB) data released Friday (16 September).
The export growth to India aligned with an increase of our garment shipments to non-traditional markets by 37.90% to $1.20 billion in the first two months of FY23.
Among other non-traditional markets, apparel exports to Japan also witnessed a 26% growth and reached $217 million during the same period.
According to the EPB data, Bangladesh’s apparel exports to the European Union reached $3.45 billion with a year-on-year growth of 23%.
During the same period, apparel exports to Germany, the largest export destination in the European Union region, grew by 16.44%.
Exports to Spain and France increased as well by 24.52% and 37.73% respectively.
Other EU countries also showed positive growth according to the EPB data.
In the first two months of the current fiscal year, apparel export to the US rose to $1.41 billion which is 20.52% higher year-on-year.
The exports to the UK and Canada also showed growth of 35.64% and 18.49% respectively.
On the other hand, exports to Russia and China decreased by 58.29% and 13.21% respectively.
