Bangladesh’s exports to major countries have shown "encouraging growth" during July-November of FY2022-23, says a BGMEA director.
During the mentioned period, our apparel export to the European Union increased by 16.27%, from US$ 7.81 billion to US$ 9.07 billion in July-Nov 2022-23, according to Md. Mohiuddin Rubel, director of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
Quoting the statistics of the Export Promotion Bureau (EPB), he said Germany is the largest European market fetching US$ 2.71 billion with 1.88% growth compared to the same period of the previous year.
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Exports to Spain and France also increased by 19.15% and 38.87% respectively.
Exports to other major EU countries such as Italy, Austria, Netherlands and Sweden have shown growth by 50.95%, 48.87%, 34.39% and 22.90% respectively.
On the other hand, he said, export to Poland has shown 19.61% year-over-year negative growth during the mentioned period.
The RMG export to the USA during the mentioned period was US$ 3.47 billion, registering 4.07% Y-O-Y growth.
“Besides, our exports to the U.K. and Canada have grown by 11.71% and 30.25% respectively compared to the same time of the previous fiscal year,” Rubel said.
At the same time, exports to non-traditional markets increased to US$ 3.19 billion from US$ 2.47 billion in the same period of time.
Among the major non-traditional markets, our export to Japan reached 597.83 million dollars with 38.11% Y-O-Y growth during July-Nov of FY2022-23.
The other non-traditional markets having high growth were Malaysia 100.21%, Mexico 49.68%, India 48.78%, Brazil 44.53%, and South Korea 30.35%.