Garment export to Europe-America market has increased
Own Correspondent, Dhaka, 13 September 2023: Exports of manufactured garments from Bangladesh have increased in Europe and America during July-August. It has increased by 11.81 percent compared to the same period of last financial year. In terms of money, which has increased from about 3.44 billion US dollars to 3.85 billion dollars. At the same time, garment exports to the United Kingdom and the United States also increased.
According to Export Promotion Bureau (EPB) data and Garment Owners and Exporters Association BGMEA, garment exports to the US-UK, Canada and European markets increased by 885.92 million dollars. Which is 12.46 percent.
Exports to India have fallen during the same time period. In July-August of the current fiscal year 2023-24, Bangladesh garment exports to the United States have increased by 2.95 percent compared to the same period of the previous fiscal year (2022-23). Apparel exports in the market rose from USD 1.42 billion to USD 1.46 billion.
Apparel exports to European markets have increased by 11.81 percent compared to the same period last fiscal year. There was an increase from 3.44 billion US dollars to 3.85 billion. Exports to Germany, Europe's second largest apparel and wholesale market, fell by 6.29 percent to USD 994 million.
In addition, exports to some major markets of the European Union such as Spain, France, Italy, Netherlands and Poland also increased by 26.94 percent, 8.45 percent, 28.73 percent, 18.95 percent and 26.37 percent respectively.
During the July-August period of the current financial year, the United Kingdom exported $976.75 million in apparel and $243.44 million to Canada. According to the data, exports increased by 19.14 percent and 7.22 percent in these two markets.
Garment exports to non-traditional markets have increased. Apparel exports to non-traditional markets increased by 21.94 percent to $1.47 billion. Bangladesh's major non-traditional markets include Japan, Australia and South Korea. Exports to these countries have increased by 33.97 percent, 49.52 percent and 19.51 percent respectively. At the same time, our garment exports to India fell by 3.14 percent.