Bangladesh's RMG exports to major European nations see healthy growth

RMG export to the European Union (EU) reached $16.23 billion during the eight-month period—an increase of 3.27 per cent year on year (YoY).

The country’s RMG exports to Spain, France, the Netherlands, Poland and Denmark showed a YoY rise of 8.68 per cent, 4.72 per cent, 14.55 per cent, 21.82 per cent and 32.81 per cent respectively during this period, according to figures from the Export Promotion Bureau (EPB).

However, such exports to Italy and Germany declined by 0.93 per cent YoY and 11.63 per cent YoY during the period, a domestic news agency reported.

RMG exports to the United States reached $5.46 billion in the period—a YoY fall of 2.58 per cent, while such exports to the United Kingdom and Canada reached $3.85 billion and $998.77 million—YoY increases of 14.64 per cent and 1.81 per cent respectively.

Such exports to non-traditional markets grew by 10.83 per cent YoY to $6.30 billion during the period. Among the major such markets, RMG exports to Japan, Australia and South Korea increased YoY by 7.12 per cent, 21.29 per cent and 17.16 per cent respectively.

Bangladesh’s apparel exports to India, however declined by 22.99 per cent YoY during the period.

Fibre2Fashion News Desk (DS)