Bangladesh's readymade garment (RMG) exports to the US surged 45.91 per cent during the July-December period of fiscal year 2021-22. Country-wise RMG export data published by the Export Promotion Bureau (EPB), shows, Bangladesh’s apparel export earnings surged to $4.2 billion in the first six months of the current fiscal year from $2.9 billion during the same period of FY21. As per a Dhaka Tribune report, Bangladesh’s exports of woven products grew by 39.97 per cent during the period to $2.83 billion. Its knitwear exports grew by 57.48 per cent to $1.54 billion.

Data from an affiliate of the US Department of Commerce, OTEXA, shows, Bangladesh’s RMG exports increased by 30.68 per cent to $6.36 billion during the first 11 months of 2021compared to $4.86 billion in the same period of 2020. Shahidullah Azim, Vice President, BGMEA says, Bangladeshi clothing has good potential in the American market as the US has shifted orders from China due to trade, from Myanmar due to the military rule and from India due to its worsening COVID-19 situation.

Besides the US, Bangladesh’s garment exports to the EU also increased 23.83 per cent to $12 billion in the first six months of FY22, from $9.7 billion in the same period of FY21. Exports to the Canadian market grew 23.78 per cent to $602.82 million in the first half of the current fiscal while to the UK market it grew 20.65 per cent to $2.14 billion during the July-December period of the current FY. However, Bangladesh’s apparel exports to China declined 21.04 per cent to $110.39 per cent during FY22 from $139.81 million in FY21.

By Fashionating World
https://www.fashionatingworld.com/new1-2/bangladesh-rmg-exports-to-the-us-surge-45-91-per-cent