Apparel export to EU up 14.3% during July-February of FY23

The European Union's (EU) apparel imports from Bangladesh saw 14.29 percent growth during the first eight months of fiscal 2022-23, $15.72 billion from $13.75 billion in July-February FY22, according to the Export Promotion Bureau (EPB).

Germany being the largest European market fetched $4.62 billion, marking a 1.03 percent negative growth compared to the same period of the previous year, reports UNB.

Apparel exports to France and Spain rose by 27.65 percent ($1.89 billion) and 18.79 percent (2.35 billion), respectively.

However, exports to Bulgaria and Poland showed 51.21 percent and 15.06 percent year-on-year negative growth.

"During the mentioned period, our exports to the US fell by 2.87 percent year-on-year. However, apparel exports to Canada and the UK saw 20.05 percent and 14.52 percent year-on-year growth, respectively," Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Md Mohiuddin Rubel said.

"During the first eight months of FY23, our exports to the US, the UK and Canada were $5.68 billion, $3.36 billion, and $980 million, respectively," he added.

"At the same time, exports to the non-traditional markets increased by 35.02 percent to $5.69 billion. Among the major non-traditional markets, our exports to Japan, Australia, India and South Korea reached $1.07 billion, $767.75 million, $753.92 million and $387.63 million, respectively," Rubel said.