Bangladesh’s ready-made garment (RMG) exports to the European Union (EU) hit $13.92 billion in the July-January period of fiscal year 2024, marking a 1.32% growth from the same period last year.
According to the Export Promotion Bureau (EPB), exports to Spain, France, the Netherlands, and Poland surged by 6.05%, 4.25%, 11.77%, and 20.30% respectively during this fiscal period.
However, exports to Italy decreased by 1.81%, while Germany, Bangladesh’s largest EU market, saw a 13.46% decline, amounting to $3.51 billion.
In the same period, RMG exports to the USA dropped by 3.90% to $4.79 billion. Conversely, exports to the UK and Canada rose by 12.98% and 0.68% respectively, totaling $3.31 billion and $871.27 million.
Exports to non-traditional markets increased by 11.69% to $5.46 billion, with notable growth in Japan, Australia, and South Korea by 8.74%, 23%, and 17.57% respectively.
