RMG export shines in Jul-Aug on strong euro

Germany overtakes US to become Bangladesh’s largest apparel market

Staff Correspondent | Published: 00:18, Sep 17,2017

 
 

A file photo shows workers working at a readymade garment factory in Dhaka. Bangladesh’s readymade garment export to its major destinations including the European countries, United States and Canada achieved significant growth in the first two months of the current financial year 2017-18. — New Age photo

Bangladesh’s readymade garment export to its major destinations including the European countries, United States and Canada achieved significant growth in the first two months of the current financial year 2017-18.
But the export earnings from the Asian countries including Japan, China and India declined in the period.
Experts and exporters say the growth trend is satisfactory and Bangladesh is getting benefits of recent rebound of the euro against the dollar.
They also say though China is a promising market, Bangladesh has been failing to gain its market share due to lack of competitiveness while Vietnam is getting more space in that market.
According to the latest Export Promotion Bureau data, Germany has overtaken the US to become the Bangladesh’s largest RMG export market in the July-August period of the current fiscal year.
RMG export to Germany in the first two months grew by 9.72 per cent to $992.39 million from $904.46 million in the same period of the FY17.
Earnings from the readymade garment export to the US market in the first two months of the FY18 grew by 9.62 per cent to $990.81 million from $903.89 million in the same period of the FY17.
RMG export to the UK, the 3rd largest export destination for Bangladesh, rose to $733.78 million from $567.17 million with 29.38 per cent growth in the period.
Readymade garment export to Spain in the July-August period of the FY18 grew by 26.22 per cent to $439.99 million from $348.58 million in the same period of the FY17.
RMG export to the Netherlands in the first two months of the FY18 grew by 41.67 per cent to $178.80 million from $126.20 million in the same period of the FY17.
Readymade garment export to France in the July-August period of the FY18 grew by 10.43 per cent to $289.70 million from $262.33 million in the same period of the FY17.
RMG export to Italy in the first two months of the FY18 grew by 25.79 per cent to $250.32 million from $199 million in the same period of the FY17.
Apparel export to Canada in the July-August period of the FY18 grew by 20.96 per cent to $205.01 million from $169.48 million in the same period of the FY17.
RMG export to Australia in the first two months of the FY18 grew by 18.34 per cent to $119.42 million from $100.99 million in the same period of FY 17.
In Asia, export earnings from Japan in the July-August period of the FY 18 fell by 5.22 per cent to $181.30 million from $191.28 million in the same period of the FY 17.
RMG export to Japan in the first two months of the FY18 fell by 6.63 per cent to $127.85 million from $136.94 million in the same period of the FY17.
Export earnings from China in July-August period of the FY 18 fell by 10.92 per cent to $128.02 million from $143.71 million in the same period of FY 17.
RMG export to China in the first two months of the FY 18 fell by 6.80 per cent to $62.38 million from $66.94 million in the same period of the FY17.
Export earnings from India in July-August period of the FY 18 fell by 0.77 per cent to $107.73 million from $108.57 million in the same period of FY 17.

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