Bangladesh’s apparel exports to non-traditional markets grew 21.77 per cent this fiscal year. Among the reasons are cash incentives for exporters and systems upgradation. Currently, apparel exporters enjoy a four per cent cash incentive for export to non-traditional markets. In addition, apparel makers in Bangladesh are upgrading machinery and processes to improve product quality. Manufacturers have been participating in global expositions to reach new buyers, which contributed a lot to increased exports to new markets.
Australia, Brazil, Chile, China, India, Japan, Korea, Mexico, Russia, South Africa and Turkey are defined as non-traditional destinations. Traditional markets include the US, Canada and the European Union. Japan’s imports of apparel goods from Bangladesh were 28.90 per cent higher than in the previous year. China’s apparel imports were up by 29.33 per cent. And India’s apparel imports from Bangladesh were up by a stunning 79.09 per cent.
