Apparel exports to EU jump 12% in 9 months

Bangladesh’s exports of manufactured garments to the European market increased by around 12%. This figure emerged during the 9 months from July to March of FY 2022-23. The Export Development Bureau (EPB) reported this information on Sunday (April 16).

According to EPB data, total apparel exports during the nine months reached $35.25 billion, which was $31.43 billion in the same period (July-March) of the previous fiscal. The overall growth in exports for the current period has been 12.17%.

According to BGMEA data, EU markets accounted for 49.96 percent of the total RMG export earnings of $35.25 billion during the period while 17.76 percent came from the US, 10.91 percent from the UK, 3.09 percent from Canada and 18.28 percent from non-traditional markets.

Apparel exports to the European Union increased by 11.78% to $17.61 billion from July-March 2022-23, as against $15.75 billion from July-March 2021-22.

However, among the EU’s major markets during this period, exports to Germany fell by 4.16% compared to the same period in the previous fiscal year. While exports to France and Spain increased by 25.23% and 18.82%, respectively. On the other hand, exports to Poland decreased by 14.86%.

Exports to UK and Canada also grew by 14.04 percent to $3.84 billion and 17.68 percent to $1.08 billion, respectively. However, apparel exports to the United States registered a negative growth of 5.01 percent year-on-year to $6.25 billion during the said period.

At the same time, our apparel exports in non-traditional markets increased by 34.74% to $6.44 billion from USD z4.78 billion compared to July-March of the previous fiscal year 2021-22.

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