Apparel export to US sees 6.31% growth in July
During the first month of fiscal year 2023-24, clothing export to the EU market also grew by 17.40% to $1.95 billion from $1.66 billion in the same period of last fiscal year.
Ready-made garments (RMG) export to the US, the largest export destination for Bangladesh has increased by 6.31% in July of 2023-24 fiscal year to $729.03 million from $685.77 million in July of 2022-23 fiscal, As per the statistics of Export Promotion Bureau (EPB).
During the first month of fiscal year 2023-24, clothing export to the EU market also grew by 17.40% to $1.95 billion from $1.66 billion in the same period of last fiscal year.
During the mentioned period, export to some major markets in EU region such as Spain, France, Italy, Netherland and Poland grew by 36.35%, 22.71%, 36.75%, 23.03% and 18.07% respectively.
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However, export to Germany, the second largest export destination for Bangladesh saw 0.70% year-over-year negative growth and stood at $514 million.
At the same time, export to Finland, Cyprus, Czech Republic, Estonia, Lithunia, Malta, Slovakia and Slovania have declined significantly.
During July of FY 2023, export to the UK and Canada reached $475.54 million and $128.89 million, with 29.78% and 14.78% year-on-year growth respectively.
At the same time, apparel export to the non-traditional markets also increased by 23.75% and reached $674.82 million. Among the major non-traditional markets, export to Japan, Australia, India and South Korea increased by 49.99%, 55.73%, 2.60% and 19.59% respectively.
