Garment export to EU slightly up in July-April

Garment export to the European Union (EU) in the July-April period of the current fiscal year grew by 3.66 percent from that in the corresponding period of last fiscal year to reach $19.90 billion.

Among the EU member countries, garment export to Denmark grew by the highest margin of 32 percent, according to data from the Export Promotion Bureau compiled by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Meanwhile, garment export to Poland grew by 20.65 percent followed by 17.51 percent to the Netherlands, 6.07 percent to Spain and 3.42 percent to France.

However, apparel export to Italy declined by 2.45 percent, as per the country-wise garment export data compiled by the BGMEA.

Moreover, garment export to Germany, the largest export market in the EU, amounted to $5.01 billion.

This was a decline of 9.40 percent from that in the July-April period of fiscal year 2022-23.

Garment export to the US reached $6.81 billion in the first 10 months of FY2023-24, declining by 1.90 percent year-on-year.

At the same time, apparel export to the UK and Canada reached $4.8 billion and $1.26 million in FY2023-24, showcasing year-on-year growths of 14.55 percent and 2.95 percent respectively.

During the July-April period of FY 2023-24, apparel export to non-traditional markets grew by 10 percent to $7.70 billion.

It was $7 billion in the corresponding period of the previous fiscal year.

Among the major non-traditional markets, garment exports to Japan, Australia and South Korea increased by 6.14 percent, 17.18 percent and 14.73 percent respectively.

However, apparel exports to India declined by 22.44 percent. The decline has been gradually coming about since August 2023.