RMG export to EU reaches US$ 13.92b in July-Jan

RMG export to the European Union has reached US$ 13.92 billion in July-January of the Fiscal Year (FY) 2023-24, according to the Export Promotion Bureau (EPB).

With an increase of 1.32% compared to the same period of previous FY, the export to Spain, France, Netherlands and Poland showed 6.05%, 4.25%, 11.77% and 20.30% growth respectively. However, local apparel exports to Italy declined by 1.81%, reports UNB.

On the other hand, Germany, the largest export market in the EU, reduced its import by 13.46% with an amount of US$ 3.51 billion compared to July-January 2022-23. The RMG export to the USA declined by 3.90 % with US$ 4.79 billion in the first seventh months of FY 2023-24 .

At the same time, exports to the UK and Canada reached US$ 3.31 billion and US$871.27 million in FY 2023-24, showing an increase by 12.98 % and 0.68% respectively.

During July-January of the FY 2023-24, the apparel export to non-traditional markets went up by 11.69% to US$ 5.46 billion from US$ 4.89 billion in the corresponding period of previous year.

Among the major non-traditional markets, exports to Japan, Australia and South Korea increased by 8.74%, 23% and 17.57% respectively. However, the apparel export to India declined by 21.86%.