Bangladesh witnessed an 18.28 per cent increase in apparel exports to non-traditional markets in the July-March period of the financial year 2022-23 compared to what was 15.22 per cent in the same period of FY 2021-22.
Reports claimed this citing data from the country’s Export Promotion Bureau (EPB), as per which shipment of ‘Made in Bangladesh’ apparel in the non-traditional markets in the nine months of FY23 grew by 34.74 per cent to US $ 6.44 billion compared with what was US $ 4.78 billion in the same period of FY22.
This rise in apparel exports has primarily been attributed to encouraging growth in Asian countries, including South Korea, India and Japan.
Meanwhile, speaking to the media, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Faruque Hassan reportedly maintained special measures were taken to increase exports to the non-traditional markets, especially in Japan, India, and South Korea even as he added there was huge potential to grow apparel exports from Bangladesh in the Asian market and that the BGMEA was working on it to fulfil the target of US $ 100 billion in exports by 2030.
