Germany overtook the United States as the top destination (country-wise) for Bangladesh’s apparel shipment with a net export amount of US $ 5.8 billion during the fiscal 2017-18.
According to the latest data from Export Promotion Bureau, Germany imported more of knitwear items – worth US $ 3.21 billion – during this fiscal compared to the woven items it imported from the country worth US $ 2.36 billion.
The US market is recovering from the slum it faced. During fiscal 2017-18, exports to the US amounted to US $ 5.35 billion – which was a 2.8 per cent gain over last FY 2016-17 amount of US $ 5.2 billion. In FY 2015-16, exports were US $ 5.62 billion.
As analysed by Apparel Resources, the US fared more in woven items from Bangladesh – importing US $3.98 billion of products – against the US $ 1.37 billion worth knit purchase.
United Kingdom remained at the third top destination, beating Brexit fears and gaining steadily through the years. In 2017-18, total apparel exports to UK amounted to US $ 3.71 billion – a rise of 3.9 per cent from 2016-17’s US $ 3.57 billion.
Analysis says, knitwear and woven products shared almost equal halves in apparel exports to UK. The knitwear exports amounted to US $ 1.89 billion and woven US $ 1.82 billion.
Meanwhile, apparel exports to India continue soaring during 2017-18. By the end of the fiscal, the total apparel exports to the neighbouring country amounted to US $ 278 million – what was more than double that seen during FY 2016-17.
The bulk of the apparel exports to India fared on woven exports which fetched a total of US $ 207 million. The total amount of knitwear exports fetched US $71 million.
