Export to the US fell by 1.98% compared to the same period in FY22
Bangladesh’s apparel export to the European Union’s (EU) market saw 15.04% growth during July-January of fiscal 2022-23.
As per the Export Promotion Bureau (EPB), the apparel export increased to $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% growth compared to the same period of the previous year.
Export to Spain and France also increased by 18.18% and 18.74% respectively, said a press release.
Exports to other major EU countries such as Italy, Austria, the Netherlands and Sweden showed growth of 57.50%, 32.93%, 32.41% and 23.28% respectively.
However, exports to Poland showed 17.79% year-over-year negative growth during the mentioned period.
RMG export to the US during the mentioned period fell by 1.98% compared to the same period in FY22.
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Md Mohiuddin Rubel, said that 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% and 19.25% 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% YoY growth during July-January of FY23.”
The other non-traditional markets having high growth were Malaysia 92.77%, Mexico 42.70%, India 58%, Brazil 64.14%, and South Korea 37.39%, Rubel added.
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