RMG export to EU reached $11.36bn during July-Dec of FY 2023-34

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As per the latest statistics from the Export Promotion Bureau (EPB), during July–December of FY 2023–24, our RMG export to the European Union reached US$ 11.36 billion, with a decline of 1.24% compared to the same period of the previous fiscal year. Our exports to Spain, France, the Netherlands, and Poland showed 6.56%, 2.15%, 9.11%, and 19.14% growth, respectively. However, our apparel exports to Italy declined by 3.89%.

On the contrary, Germany, the largest export market in the EU declined by 17.05% with an amount of US$ 2.86 billion compared to the July-December 2022-23.

Our RMG exports to the U.S.A. and Canada reached US$ 4.03 billion and US$ 741.94 million in the first six months of FY2023–24, declining by 5.69% and 4.16% year-over-year growth, respectively, said, Mohiuddin Rubel, Director of BGMEA.

At the same time, our exports to the U.K. reached US$ 2.71 billion, with 13.24% growth respectively.

During July–December of FY 2023–24, our apparel export to non-traditional markets grew by 12.28% to US$ 4.53 billion from US$ 4.04 billion in the corresponding period of the previous year. Among the major non-traditional markets, exports to Japan, Australia, and South Korea increased by 9.98%, 24.67%, and 19.06%, respectively. However, our apparel export to India declined by 17.27%.

Author: Mohiuddin Rubel, Director of BGMEA