Export of RMG items to EU witnesses 16.27% growth during Jul-Nov

The export of RMG items to the European Union (EU) has witnessed 16.27% growth during the July-November period of this year compared to the same period last year.

As per the statistics of the Export Promotion Bureau (EPB), RMG export to the EU increased by 16.27%, from$7.81 billion to $9.07 billion in July-November 2022-23.

Germany is the largest European market fetching $2.71 billion with 1.88% growth compared to the same period of the previous year.

Export to Spain and France also increased by 19.15% and 38.87% respectively. Exports to other major EU countries such as Italy, Austria, Netherlands and Sweden have shown growth by 50.95%, 48.87%, 34.39% and 22.90% respectively.

On the other hand, export to Poland has shown 19.61% year-over-year negative growth during the mentioned period.

Talking to BSS, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Md Mohiuddin Rubel said, "Our exports to major countries have shown encouraging growth during July-November of FY2022-23."

He said RMG export to the USA during the mentioned period was $3.47 billion, registering 4.07% year-on-year growth.

"Besides, our exports to the UK and Canada have grown by 11.71% and 30.25% respectively compared to the same time of the previous fiscal year. At the same time, exports to non-traditional markets increased to $3.19 billion from $2.47 billion in the same period of time," he added. 

Among the major non-traditional markets, he mentioned that Bangladesh's export to Japan reached 597.83 million dollars with 38.11% year-on-year growth during July-November of FY2022-23. 

The other non-traditional markets having high growth were Malaysia at 100.21%, Mexico at 49.68%, India at 48.78%, Brazil at 44.53%, and South Korea at 30.35%, he added.