Bangladesh RMG exports: Jan-Jun 2023

29 July 2023, Mumbai

During the January-June 2023 period, Bangladesh's Ready-Made Garments (RMG) exports to the world achieved a notable growth of 5.65%, totaling US$ 23.99 billion, compared to US$ 22.71 billion in the corresponding period of 2022.

European Union Sees Surge

The European Union witnessed a commendable growth of 4.22%, with total export turnover reaching US$ 12.02 billion, up from US$ 11.53 billion in the same period the previous year.

However, some EU member countries, including Germany, Latvia, Lithuania, Malta, Poland, and Slovenia, experienced declines in imports from Bangladesh.

Exports Registered Growth

On a positive note, exports to France and Italy soared, increasing by 15.2% and 28.6%, respectively, with impressive values of US$ 1.52 billion and US$ 1.14 billion. Spain also displayed a remarkable 19.36% increase, reaching US$ 1.87 billion.

Expand footprint

In addition to traditional markets, Bangladesh's exports to new markets surged by 30.63%, reaching US$ 4.33 billion in Jan-Jun 2023 from US$ 3.31 billion in the same period last year.

Mixed bag

Remarkably, exports to Japan, Australia, India, Turkey, and Brazil showed impressive positive growth of 48.48%, 55%, 32.77%, 33.12%, and 83.28%, respectively.

Conversely, Bangladesh's exports to the USA dipped by 11.36% to US$ 4.23 billion. Nevertheless, exports to the UK and Canada demonstrated growth at 11.67% and 6.65%, amounting to US$ 2.63 billion and US$ 771.67 million, respectively.

However, the United Arab Emirates and Chile witnessed declines of 11.81% and 17.06% in imports from Bangladesh.

CREDITS: BGMEA Press Release.

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