Apparel export to almost all major destinations of Bangladesh experienced a positive growth in July, the first month of current fiscal year 2022-23, said the recently published country-wise detailed apparel export data of the Export Promotion Bureau (EPB).
Bangladesh exported apparel items of worth $685.77 million to the US, the largest single export destination for Bangladesh, fetching a year-on-year growth of 14.38% from $599.53 million of the last FY.
The country exported garment of worth $517million to Germany, the second largest single export destination, registering a y-o-y growth of 2.21% from $506.65 million of July of FY2021-22.
During the mentioned period, registering a 32.21% y-o-y growth, Bangladesh exported apparel goods worth of $366.42 million to the UK, up from last year’s $276.95 million.
The apparel export to the other major destinations such as Spain, France, Netherland, Italy and Poland also registered positive growth by 30.27% to $265.09 million, by 13.88% to $170.47 million, by 27.98% to $131.74 million, by 4.14% to $130.64, and by 2.92% to $123.80 million, respectively.
During July of FY 2022-23, export Canada reached US$ 366.42 million by fetching a y-o-y growth of 7.33% from $104.63 million of July of the last fiscal year.
During the mentioned period, the apparel export to the non-traditional markets reached $545.32 million with 22.72% year-over-year growth, from $444.34 million of the last FY.
Among the major destinations of the non-traditional markets, export to Japan reached to $92.74 million, with a y-o-y growth of 4.26% from $$88.96 million of the last fiscal year.
From India, Bangladesh earned $76.98 million in the first month of FY22-23, registering a growth of 71.74% from $44.82 million of July of the last fiscal year.
Among the major destinations of the non-traditional markets, export to Australia, South Korea, and Mexico increased by 18.53% to $65.32 million, by 22.27% to $37.96 million, and by 88.92% to $34.67 million, respectively, said the EPB data.
Talking to the media, Mohiuddin Rubel, director of the BGMEA, the apparel exports to the major destinations increased by 16.61% but the world trade and economy is currently going through a crisis situation due to the post-pandemic and geo-political crisis.
Moreover, high fuel prices and supply chain disruption are having a negative impact on the global situation.
In this situation, governmental policy support, strong backward linkage industry, efficiency, upskilling, and diversification of market and products will play important role, he added.