RMG exports to EU witness 16.27pc growth in July-Nov

Staff Reporter :
The country’s apparel exports to the major countries have shown encouraging growth during the first five months (July-November) period of the current fiscal year (2022-23).
The readymade garment export to the European Union (EU) increased by 16.27 per cent to $9.07 billion from $ 7.81 billion during the mentioned period, according to a country-wise data revealed by Export Promotion Bureau (EPB).
Germany is the largest European market fetching $ 2.71 billion with 1.88 per cent growth compared to the same period of the previous year.
Exports to Spain and France also increased by 19.15 per cent and 38.87 per cent respectively during the aforesaid time. Exports to other major EU countries such as Italy, Austria, Netherlands and Sweden have shown growth by 50.95 per cent, 48.87 per cent, 34.39 per cent and 22.90 per cent respectively.
On the other hand, export to Poland has shown 19.61 per cent year-over-year negative growth during the mentioned period.
RMG export to the USA during the mentioned period was $ 3.47 billion registering 4.07 per cent Y-O-Y growth. Besides, exports to UK and Canada have grown by 11.71 per cent and 30.25 per cent respectively compared to the same time of last fiscal year.
At the same time, export to non-traditional markets increased to $ 3.19 billion from $ 2.47 billion in the same period of time, according to the EPB data.
Among the major non-traditional markets, export to Japan reached $597.83 million with 38.11 per cent Y-O-Y growth during the time. The other non-traditional markets having high growth were Malaysia 100.21 per cent, Mexico 49.68 per cent, India 48.78 per cent, Brazil 44.53 per cent, and South Korea 30.35 per cent respectively.
BGMEA Director Mohiuddin Ruble, said, “Our exports to major countries have shown encouraging growth during July-November of the current fiscal year, despite having various challenges.”