Garment exports from Bangladesh to non-traditional markets declined by 6.34 percent year-on-year to $4.24 billion in the July-February period of the current fiscal year.
Every market other than the European Union (EU), the UK, Canada, and the US is considered non-traditional or emerging for Bangladesh.
The total market share of garment exports to non-traditional markets stood at 16.44 percent during this time, according to data from the Export Promotion Bureau (EPB).
In the same period, Bangladesh’s total RMG exports reached $25.8 billion, registering a 3.73 percent year-on-year fall.
The EU remained Bangladesh’s largest export destination for RMG, accounting for 49.18 percent of total exports in this category. Export earnings from the bloc stood at $12.69 billion, registering a year-on-year decline of 5.49 percent.
The US retained its position as the second-largest market, with RMG exports amounting to $5.03 billion during the period. This represented 19.50 percent of total RMG exports, though shipments fell by 0.74 percent year-on-year.
Exports to Canada and the UK showed positive momentum. Apparel exports to Canada grew by 3.08 percent in July-February to reach $871.58 million, representing a 3.38 percent share.
Shipments to the UK slightly increased by 1.22 percent to $2.97 billion, accounting for an 11.5 percent share.
The knitwear segment recorded a 4.56 percent fall to $13.68 billion, while woven exports fell by 2.79 percent to $12.10 billion during the same period.
https://www.thedailystar.net/business/economy/news/rmg-exports-emerging-markets-fall-6-jul-feb-4126636