Bangladesh’s July-April Garment Exports To New Markets Up 10%

In the July to April months of fiscal 2023-24, Bangladesh’s apparel exports to new markets increased 10 percent year on year and touched US $7.70 billion.

Growth to new markets included Saudi Arabia with 58 percent growth, Turkey with 54 percent, UAE with 42 percent, Australia with 17.18 percent, South Korea with 14.75 percent and Japan with 6 percent.

In the first ten months of fiscal ending June 2024, Bangladeshi garment exports totaled $40.49, up 4.95 percent over $38.58 billion reported in the same period of previous fiscal.

In the months between July 2023 and April 2024, knitwear exports stood at $22.88 billion, growing by 11 percent over the comparable months of fiscal 2023.

“On the other hand, woven clothing exports grew at just 0.03 percent from a year ago period to reach $17.62 billion in the reporting period,” data from the Export Promotion Bureau infomed.

However, there was a disparity in garment exports to the European Union in the period under review where they rose 3.66 percent year over year and totaled $19.90 billion.

“Apparel exports to a few countries like Denmark with 32 percent, Poland with 20.6 percent, Netherlands with 17.5 percent, Spain 6 percent and France 3.4 percent,” media reports stated.

But garment exports to Germany dropped 9.4 percent and to Italy by 2.41 percent and shipments to the US also dipped 1.90 percent.