Japan has become a very potential market for Bangladesh as garment exports to Japan in the first seven months of the fiscal year grew by 46.56 per cent. The country’s overall export earnings from Japan in the period grew by 33.04 per cent. Japan’s economy has revived which resulted in a growing demand for Bangladesh-made apparels.
Bangladesh’s garment exports to China in the first seven months of the fiscal year grew by 49.65 per cent. Demand for apparel has increased in China as the country has been shifting its manufacturing to the high-tech industry against the backdrop of rising labor costs.
Bangladesh’s export earnings from Germany grew by 8.95 per cent. The country’s garment exports to the market in the period increased by 9.61 per cent. However, export earnings from the United Kingdom in the seven month period showed a minimal 2.95 per cent growth. And similarly Bangladesh’s garment exports to the UK in the period increased by just 1.25 per cent.
Garment exports to India in the same period grew by 129.05 per cent. The US is the largest export destination for Bangladesh. Earnings from exports of ready-made garments to the US grew by 17.22 per cent. Bangladesh’s overall export earnings from the US in the seven month period grew by 17.45 per cent.
