Bangladesh's apparel exports increase 5.95% worldwide

Bangladesh apparel export worldwide has increased by 5.95% to $14.78 billion in July-October of FY2023-24 compared to the $13.95 billion in the same time period one year earlier.

Meanwhile, the export to the European Union (EU) reached $7.06 billion, with 3.99% growth during July-October, of FY 2023-24, compared to the same period of previous fiscal year, according to the latest statistics Export Promotion Bureau (EPB).

The RMG export to Spain, France, Netherlands, and Italy showed 18.07%, 2.56%, 12.73% and 9.88% growth respectively.

On the other hand, Germany the largest export market in the EU declined by 11.49% with an amount of $1.81 billion compared to the $2.04 billion in July-October period of FY2022-23.

Also, the RMG export to the United States stood $2.57 billion in July-October 2023-24 with declined 3.05% Y-O-Y growth. At the same time, exports to UK and Canada reached $1.8 billion and $462.86 million, with positive 14.63% and negative 1.53% growth respectively.

During July-October of FY 2023-24, apparel export to non-traditional markets grew by 17.01% to $2.86 billion from $2.45 billion in the corresponding period of the previous year.

Among the major non-traditional markets, exports to Japan, Australia and South Korea increased by 23.03%, 45.44% and 29.85% respectively. However, our apparel exports to India declined by 12.8%.