Thanks to poor productivity, lack of diversification and adoption of technology, Bangladesh’s potential exports worth US $ 20 billion in the European Union and the UK have remained untapped!
This has been claimed by a study conducted by the Research and Policy Integration for Development (RAPID), according to which, the EU and the UK account for 45 per cent of the global apparel market with more than US $ 200 billion in yearly imports even if Bangladesh’s exports to the markets in the financial year 2021-22 were US $ 28 billion (with a 32per cent growth), of which, earnings from readymade garment products were nearly US $ 26 billion.
Reports claimed as per RAPID Chairman Mohammad Abdur Razzaque, Bangladesh realised less than 60 per cent of the export potential and potential apparel exports worth US $ 18 billion remained unutilised, who further, reportedly, added Bangladesh had an additional export potential of US $ 20 billion in the EU and the UK and it would rise further as China was losing its share on the global market.
