26 May 2024, 20:46

RMG exports to EU notches 3.66% growth

DHAKA, May 26, 2024 (BSS) - Bangladesh's RMG exports to the European Union (EU) registered a 3.66 percent growth during the July-April period of the current fiscal year (FY24) bagging $19.90 billion.

As per the latest statistics of the Export Promotion Bureau (EPB), Bangladesh's export to Spain, France, Netherlands, Poland and Denmark showed 6.07%, 3.42%, 17.51%, 20.65% and 32% growth respectively during this 10-month period.

However, apparel exports to Italy declined by 2.45%. On the contrary, RMG exports to Germany, the largest export market in the EU, declined by 9.40% with an amount of US$ 5.01 billion compared to the July-April period of the previous fiscal year (2022-23).

During this 10-month period, the country's RMG exports to U.S.A. reached US$ 6.81 billion with a fall of 1.90%.

 At the same time, Bangladesh's exports to U.K. and Canada reached US$ 4.8 billion and US$1.26 million of FY2023-24 with a 14.55 % and 2.95% year on year (Y-O-Y) growth respectively.

 During the July-April period of of FY24, Bangladesh's apparel exports to non-traditional markets grew by 10% to US$ 7.70 billion from US$ 7 billion in the corresponding period of previous year.

Among the major non-traditional markets, exports to Japan, Australia and South Korea increased by 6.14%, 17.18% and 14.73% respectively.

However, Bangladesh's apparel exports to India declined by 22.44%.



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