RMG exports to EU witnesses 14.29% growth during July-Feb

Bangladesh’s apparel exports to the European Union (EU) rose by 14.29% to $15.72 billion during the July-February period of the fiscal year 2022-23 compared to the same period last year, according to statistics of the Export Promotion Bureau (EPB). 

Exports to France and Spain reached $1.89 billion and $2.35 billion with 27.65% and 18.79% YoY growth respectively.

On the other hand, as per data released by the EPB, the export of RMG items to Germany, one of the largest markets in the EU, registered a Year-on-Year (YoY) decline of 1.03% to $4.62 billion.

Exports to the US also witnessed a YoY decline of 2.87% to $5.68 billion.

During the same period, apparel imports from Bangladesh to the UK and Canada saw YoY positive growth of 14.52% and 20.05% to $3.36 billion and $980 million respectively.

The EPB statistics marked Bulgaria and Poland with negative YoY growth during the mentioned period.

Bangladesh’s apparel exports to other non-traditional markets reached $5.69 billion with 35.02% YoY growth during the July-February period of this fiscal year.

Among the major non-traditional markets, exports to Japan, Australia, India and South Korea reached $1.07 billion, $767.75 million, $753.92 million and $387.63 million respectively.