RMG exports post over 9pc growth in July-April

The country's total RMG exports has recorded a growth of 9.09 per cent year on year (YoY) in July-April period of the current fiscal year (FY 2022-23), according to the latest data released by the Export Promotion Bureau (EPB), reports BSS.
The RMG export during this period stood at US$38.57 billion, with the EU market accounting for US$19.20 billion or 49.78 per cent of the total exports.
Besides, RMG items worth US$6.9 billion were exported to the USA market having a share of 18.01 per cent of the total exports. RMG products worth US$1.2 billion were exported to Canada (3.19 percent) while US$7.00 billion worth of apparel items were shipped to non-traditional market (18.16 per cent).
The EPB data showed that the country's export to the EU countries grew by 8.58 per cent, compared to the same period of the previous fiscal year.
However, exports to Germany, Bulgaria and Poland have declined. In contrast, Bangladesh's RMG export to France and Spain showed positive growth of 22.21 per cent and 16.69 per cent year on year respectively.
Italy also displayed a positive trend, recording a growth of 42.40 per cent. Export to Italy fetched US$1.85 billion.
On the other hand, Bangladesh's export to the USA market faced a negative growth of 7.13 per cent for the same period and stood at US$6.94 billion.
The country's apparel export to Canada and the UK markets, however, experienced positive growth rates of 16.09 per cent and 10.88 per cent respectively.
Exports to non-traditional markets have also shown a positive trend with a growth rate of 30.80 per cent, bagging US$7 billion in the same period.
Among the non-traditional markets, Japan, Australia, India and South Korea were the major markets where US$1.32 billion, US$961.30 million, US$889.06 million, and US$477.81 million worth of RMG items were exported respectively.