RMG exports to EU rises

Bangladesh’s readymade garment (RMG) exports to the European Union reached 2,164.81 crore USD during July-April of fiscal year 2023-24, marking over two percent increase compared to the same period in the previous fiscal year.

The information is found in the latest statistics from the Export Promotion Bureau (EPB).

According to the EU, in the 11 months of the current financial year, Bangladesh's garment exports to European Union countries - Spain, France, Netherlands, Poland and Denmark have increased by 6.23%, 1.02%, 16.27%, 17.28% and 26.96% respectively.

However, apparel exports to Germany, the EU's largest export market, declined by 10.12%.

Meanwhile, exports of ready-made garments to the US and Canadian markets decreased, but increased to the UK.

Conversely, the US and Canada saw a fall in imports of Bangladeshi garment products, with values falling 746.84 crore USD and 138.65 crore USD, reflecting year-on-year decreases of 3.43 % and 0.31% respectively.

Bangladesh’s RMG exports to the UK reached 515.99 crore in the 11 months of the current fiscal year, marking 12.35% increase.

Exports to non-traditional markets showed robust growth, increasing by 6.47% to 768.99 crore USD from 818.75 crore USD in the previous year.