The United States is the only major market where Bangladesh’s apparel exports declined by 1.98 percent in the first seven months of this fiscal; the setback was adequate compensation in the European Union which clocked 15.04 percent growth during July-January.
Bangladesh is in the driving seat as far as apparel exports are concerned. According to the statistics released by the Export Promotion Bureau (EPB) of Bangladesh, apparel exports to the EU increased to $13.73 billion in July-Jan 2023 from $11.94 billion in July-January FY22.
Though the exports to Germany inched up by only 0.83 percent still it retained its position as the largest EU market for apparel by importing apparel worth $4.02 billion from Bangladesh.
Barring Poland registering a decline of 17.79 percent in apparel exports, all other major EU countries registered robust growth. Exports to Spain increased by 18.18 percent, France by 18.74 percent, Italy by 7.50 percent, Netherlands by 32.41 percent, Austria by 32.93 percent and Sweden by 23.28 percent.
Exports to the UK grew by 14.17 percent and to Canada by 19.25 percent during the period under review. The exports to non-traditional markets reached $4,89 billion compared with $3.67 billion during the same period last year. Exports to Japan, a non-traditional market, are likely to cross the $1 billion barrier as the exports in the first seven months have already reached $920.26 million depicting a growth of 45.92 percent. Other non-traditional markets also showed robust growth during this period.
Bangladesh is in the driving seat as far as apparel exports are concerned. According to the statistics released by the Export Promotion Bureau (EPB) of Bangladesh, apparel exports to the EU increased to $13.73 billion in July-Jan 2023 from $11.94 billion in July-January FY22.
Though the exports to Germany inched up by only 0.83 percent still it retained its position as the largest EU market for apparel by importing apparel worth $4.02 billion from Bangladesh.
Barring Poland registering a decline of 17.79 percent in apparel exports, all other major EU countries registered robust growth. Exports to Spain increased by 18.18 percent, France by 18.74 percent, Italy by 7.50 percent, Netherlands by 32.41 percent, Austria by 32.93 percent and Sweden by 23.28 percent.
Exports to the UK grew by 14.17 percent and to Canada by 19.25 percent during the period under review. The exports to non-traditional markets reached $4,89 billion compared with $3.67 billion during the same period last year. Exports to Japan, a non-traditional market, are likely to cross the $1 billion barrier as the exports in the first seven months have already reached $920.26 million depicting a growth of 45.92 percent. Other non-traditional markets also showed robust growth during this period.