RMG export to the USA, the largest export destination for Bangladesh, has increased by 6.31% in July fiscal year 2023-24  to USD 729.03 million from USD 685.77 million in the July 2022-23, according to a recent statistics of Export Promotion Bureau (EPB).

“During the first month of fiscal year 2023-24, our clothing export to the EU market grew by 17.40% to USD 1.95 billion from USD 1.66 billion in the same period of last fiscal year. During the mentioned period, our export to some major markets in EU region such as Spain, France, Italy, Netherland and Poland grew by 36.35%, 22.71%, 36.75%, 23.03% and 18.07% respectively,” said BGMEA Director Mohiuddin Rubel.

Read: RMG exports to EU grew 9.93% in FY 2022-23: Export Promotion Bureau

In a letter, Mohiuddin Rubel also said, “However, our export to Germany, the second largest export destination for Bangladesh, saw 0.70% year-over-year negative growth and reached USD 514million. At the same time, export to Finland, Cyprus, Czech Republic, Estonia, Lithunia, Malta, Slovakia and Slovania   have declined significantly.”

During July, FY 2023, export to UK and Canada reached US$ 475.54 Million and US$ 128.89 million, with 29.78% and 14.78% year-on-year growth respectively.

Read: RMG exports in FY23 almost $47bn, 85% of total exports

At the same time, apparel export to the non-traditional markets also increased by 23.75% and reached USD 674.82 million. Among the major non-traditional markets, export to Japan, Australia, India and South Korea increased by 49.99%, 55.73%, 2.60% and 19.59% respectively, the letter reads.