Bangladesh’s RMG exports to emerging markets fall 6% in Jul–Feb

Garment exports from Bangladesh to non-traditional markets declined by 6.34 percent year-on-year to $4.24 billion in the July–February period of the current fiscal year.

Every market other than the European Union (EU), the UK, Canada, and the USA is considered non-traditional or emerging for Bangladesh.

The total market share of garment exports to non-traditional markets stood at 16.44 percent during this time, according to data from the Export Promotion Bureau (EPB).

In the July–February period, Bangladesh’s RMG exports reached $25.8 billion, registering a 3.73 percent year-on-year fall.

The EU remained Bangladesh’s largest export destination for RMG, accounting for 49.18 percent of total exports in this category. Export earnings from the EU stood at $12.69 billion, registering a year-on-year decline of 5.49 percent.

The United States retained its position as the second-largest market, with RMG exports amounting to $5.03 billion during the period. This represented 19.50 percent of total RMG exports, though shipments fell by 0.74 percent year-on-year.

Exports to Canada and the United Kingdom showed positive momentum. Apparel exports to Canada grew by 3.08 percent in July–February of this fiscal year to reach $871.58 million, representing a 3.38 percent share.

Shipments to the UK slightly increased by 1.22 percent to $2.97 billion, accounting for an 11.5 percent share.

The knitwear segment recorded a 4.56 percent fall to $13.68 billion, while woven exports fell by 2.79 percent to $12.10 billion during the July–February period of the current fiscal year.