Bangladesh’s apparel exports to non-traditional markets experienced a notable rise, increasing by 6.79% year-on-year to reach US $ 6.04 billion during the July-May period of the current fiscal year, according to data from the Export Promotion Bureau and compiled by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
Non-traditional markets include all destinations except the European Union, the United States, Canada, and the United Kingdom. Among these markets, exports to India surged by 17.35%, reaching substantial growth, while shipments to Turkey jumped by 31.75% and Japan by 10.32%. Conversely, exports to Russia, South Korea, the United Arab Emirates, and Malaysia declined during the same period.
The European Union remained Bangladesh’s largest export destination for readymade garments (RMG), accounting for nearly half of total shipments at US $ 18.25 billion, which is a 10.46% increase from the previous year. The United States followed closely with exports valued at US $ 7.03 billion, marking a 19.23% rise. Canada and the United Kingdom contributed US $ 1.20 billion and US $ 4.04 billion respectively, with growth rates of 14.14% and 3.96%.
Within the EU, Germany was the leading importer of Bangladeshi garments, with exports totaling US $ 4.58 billion, followed by Spain at US $ 3.16 billion and France at US $ 2.00 billion.
The garment sector also saw a robust performance in specific segments, with knitwear exports growing by 10.98 percent and woven garments increasing by 9.30%. Overall, Bangladesh’s RMG exports for the period stood at US $ 36.56 billion, reflecting a 10.20% rise compared to the same period last year.
This positive trend underscores Bangladesh’s expanding market reach and resilience in the global apparel industry amid ongoing economic challenges.
