Bangladesh’s apparel exports to Europe and the United States increased by 11.81 per cent in July-August compared to the corresponding period of the last fiscal year. In money terms, the exports increased from about $3.44 billion to $ 3.85 billion.
During the same period, apparel exports to the United Kingdom also increased.
According to Export Promotion Bureau (EPB) data and Bangladesh Garment Owners and Exporters Association (BGMEA) apparel exports to the US-UK, Canada and European markets increased by $885.92 million, or by 12.46 per cent.
Experts said that due to the increase in global price inflation due to the effects of the Russia-Ukraine war, apparel traders were facing uncertainties as Western consumers became more careful about spending.
In July-August, garment exports to the United States increased by 2.95 per cent compared to the corresponding period of fiscal 2022-23, that’s from $ 1.42 billion to $ 1.46 billion. Apparel exports to European markets increased by 11.81 per cent compared to the corresponding period of fiscal 2022-23, an increase from $3.44 billion to $3.85 billion.
The exports to Germany, Europe’s second-largest apparel and wholesale market, fell by 6.29 per cent to $ 994 million.
But the exports to other major markets of the European Union increased by 26.94 per cent, such as to Spain by 8.45 per cent, to France by 28.73 per cent, to Italy by 18.95, and to Poland by 26.37 per cent.
BGMEA vice-president Shahidullah Azim said, “We look forward to exporting apparel exports worth $100 billion by 2030 considering the overall situation.”
