Bangladesh鈥檚 readymade garment exports to non-traditional markets slightly declined in the July-November period of FY2024-25 due to reduced knitwear shipments, while earnings from聽traditional markets, including the United States and the European Union, saw significant growth in the period.
The country鈥檚 export earnings from the nontraditional market in the first five months of FY25 fell by 0.77 per cent to $2.76 billion from $2.78 billion in the same period of FY24, according to the Export Promotion Bureau data.
Woven garment exports to nontraditional markets in the period grew by 11.26 per cent to $1.36 billion while knitwear exports declined by 10.23 per cent to $1.40 billion.
The country鈥檚 export destination other than the US, the EU, the UK and Canada considered as nontraditional market.
Although the RMG exports to nontraditional markets decreased slightly, the earnings from Japan, India, South Korea, Turkey and Mexico registered a moderate growth in the first five months of FY25.
Bangladesh鈥檚 RMG exports to Japan in July-November of FY25 increased by 3.69 per cent to $496.20 million from $478.57 million in the same period of FY24.
RMG exports to India in the five months of FY25 grew by 16.48 per cent to $325.06 million from $279.06 million in the same period of past financial year.
The country鈥檚 apparel exports to Turkey in July-November of FY25 increased by 50.54 per cent to $181.85 million while the shipment to Brazil grew by 30.06 per cent to $66.04 million.聽
RMG exports to Russia in the period fell by 9.34 per cent to $115.04 million while the export earnings from the聽United Arab Emirates declined by 15.44 per cent to $98.27 million.
EPB data showed that nontraditional markets contributed 17.11 per cent to total RMG exports in the first five months of FY25, down from 19.37 per cent in FY24.
According to the government data, RMG exports to the EU grew by 13.74 per cent while the exports to the US increased by 17.44 per cent in July-November period of FY25.
It also showed that RMG exports to the UK market in the first five months of FY25 recorded growth of 5.84 per cent while the shipment to Canada increased by 13.22 per cent in the period.