Apparel, Fashion & Retail | Global Textiles | Trade Analysis

RMG export results by country for the period of July to October in FY2022-23

Published: November 22, 2022
Author: TEXTILE VALUE CHAIN

The global economy is passing through a turbulent time. Retail sales globally is affected as a result. Imported inflation is a big concern for us. The depression in demand and consumption for clothing may continue for some time, yet there are many avenues for new growth and opportunities. Recycling and upcycling on textile wastes (known as Jhoot) could open a new horizon and brand Bangladesh as a destination for circular fashion altogether. BGMEA is working to promote and facilitate recycling of pre-consumer textile wastes and we hope to see a major breakthrough in this area in near future. Also a transition to non-cotton items, more investments in backward linkage industries particularly woven textiles, and also high end fashion items makes the way forward.

During the first four months of FY 2022-23, our apparel export to non-traditional markets grew by 24.17% and reached US$ 2.45 billion from US$1.97 billion in the corresponding period of the previous fiscal year. Among the non-traditional markets, export to Japan reached US$ 453.91 million dollars with 26.03% year-on-year growth. Export to India also increased by 55.87% and reached US$ 397.16 million. On the other hand, exports to Russia and UAE have declined by 51.14%, and 0.76% respectively.

During July-October of the FY 2022-23, RMG export to the European Union reached US$ 6.79 billion, with 10.26% growth compared to the same period of the previous fiscal year. Export to major destination in Europe, i.e. Germany, declined by 2.54%. Export to Germany during the mentioned period of time was US$ 2.04 billion. Export to Poland, which is one of the fastest growing market in EU, also saw a decline by 27.59% year-on-year. On the other hand, our apparel export to Spain and France have shown 16.91% and 37.06% growth respectively.

Bangladesh’s RMG Export to World (July-October FY 2021-22 & 2022-23) Export Value in Million USD

EU Countries Woven  Knit  Total
July-Oct  July-Oct  Growth % July-Oct  July-Oct  Growth % July-Oct  July-Oct Growth 

%

2021-22  2022-23  2021-22  2022-23  2021-22  2022-23
Austria  4.42  4.80  8.60  10.65  16.59  55.76  15.07  21.39  41.93
Belgium  66.27  60.28  -9.03  146.76  163.75  11.58  213.03  224.04  5.17
Bulgaria  0.13  0.03  -76.61  0.47  0.33  -30.89  0.60  0.36  -40.62
Denmark  99.50  104.77  5.30  238.73  250.58  4.96  338.23  355.35  5.06
Finland  1.33  2.02  52.27  8.46  14.23  68.14  9.79  16.25  65.99
France  205.20  288.07  40.38  425.95  577.02  35.47  631.16  865.09  37.06
Germany  802.89  768.44  -4.29  1,297.48  1278.65  -1.45  2100.37  2047.09  -2.54
Greece  2.86  5.55  94.16  12.26  16.78  36.85  15.12  22.33  47.68
Italy  109.81  166.26  51.41  326.65  382.22  17.01  436.46  548.48  25.66
Ireland  19.87  26.81  34.98  41.92  46.24  10.30  61.78  73.05  18.24
Netherlands  162.04  223.03  37.64  271.82  332.81  22.44  433.86  555.84  28.12
Portugal  7.04  10.32  46.47  16.89  27.25  61.38  23.93  37.57  56.99
Romania  0.50  0.36  -28.20  4.48  4.45  -0.72  4.98  4.81  -3.50
Spain  388.27  428.83  10.45  558.69  678.23  21.40  946.95  1107.06  16.91
Sweden  54.70  71.93  31.51  152.91  177.52  16.09  207.61  249.45  20.15
Cyprus  0.13  0.26  109.92  0.43  1.29  202.59  0.55  1.55  181.49
Czech Republic  35.80  55.84  55.98  38.48  57.71  49.99  74.27  113.55  52.88
Estonia  0.05  0.04  -19.31  0.31  0.36  16.38  0.36  0.40  11.18
Hungary  7.41  13.58  83.10  31.85  49.25  54.62  39.27  62.82  59.99
Latvia  0.09  0.04  -60.15  0.13  0.13  -1.72  0.22  0.16  -26.11
Lithuania  0.08  0.10  32.94  0.02  0.02  7.70  0.09  0.12  28.44
Malta  0.02  0.03  51.14  0.05  0.12  123.12  0.07  0.14  105.42
Poland  205.06  148.30  -27.68  345.65  250.46  -27.54  550.71  398.77  -27.59
Slovakia  4.10  7.02  71.08  17.11  25.51  49.06  21.22  32.53  53.32
Slovenia  6.58  11.96  81.86  24.53  32.54  32.66  31.11  44.51  43.06
Croatia  1.33  2.78  108.90  3.40  7.89  132.14  4.73  10.67  125.61
Luxembourg  0.09  0.19  99.24  0.31  0.43  39.76  0.40  0.61  53.76
Sub-Total (EU)  2,185.56  2,401.65  9.89  3,976.38 4,392.32  10.46 6,161.95 6,793.97  10.26
EU % of World  40.39  38.57  55.15  56.86  48.82  48.69
USA  1,650.31  1827.73  10.75  1,012.75  832.43  -17.81 2,663.07 2,660.16  -0.11
% of USA  30.50  29.35  14.05  10.78  21.10  19.07
U.K.  512.87  586.62  14.38  932.03  991.53  6.38  1444.91  1578.15  9.22
% of U.K.  9.48  9.42  12.93  12.84  11.45  11.31
Canada  171.70  254.24  48.08  206.36  215.79  4.57  378.05  470.03  24.33
% of Canada  3.17  4.08  2.86  2.79  3.00  3.37
Non-Traditional Markets
Japan  163.85  219.57  34.01  196.30  234.34  19.38  360.15  453.91  26.03
Australia  116.48  124.95  7.27  154.50  169.98  10.02  270.98  294.93  8.84
Russia  62.72  25.13  -59.94  121.95  65.10  -46.61  184.67  90.23  -51.14
India  138.47  213.17  53.95  116.33  183.99  58.16  254.80  397.16  55.87
Korea Rep.  48.90  76.90  57.24  67.62  86.86  28.45  116.53  163.76  40.53
China  41.66  45.33  8.81  24.76  23.98  -3.16  66.42  69.31  4.35
United Arab Emirates  49.34  30.52  -38.14  37.81  55.97  48.02  87.16  86.50  -0.76
Mexico  32.43  57.63  77.70  46.68  58.51  25.36  79.11  116.14  46.82
Malaysia  11.30  23.45  107.49  34.12  66.96  96.27  45.42  90.41  99.06
Saudi Arabia  21.22  17.61  -17.01  28.26  40.81  44.43  49.48  58.43  18.07
Turkey  22.93  40.42  76.27  16.33  28.70  75.73  39.26  69.12  76.05
South Africa  24.14  22.87  -5.27  17.96  16.29  -9.30  42.10  39.16  -6.99
New Zealand  14.26  11.97  -16.01  26.15  28.62  9.42  40.41  40.59  0.45
Chile  21.72  30.19  38.99  29.09  26.84  -7.72  50.81  57.03  12.25
Brazil  17.02  18.68  9.79  9.30  13.15  41.35  26.32  31.83  20.94
Other Countries  104.18  198.59  90.61  155.37  192.94  24.18  259.56  391.53  50.85
Total (Non-Trad. Markets) 890.63  1,156.97  29.90  1,082.54 1,293.05  19.45 1,973.17 2,450.03  24.17
% of Non-Traditional  16.46  18.58  15.01  16.74  15.63  17.56
GRAND TOTAL  5,411.08  6,227.22  15.08  7,210.07  7,725.12  7.14  12,621.15  13,952.34  10.55

 

Source: EPB, Compiled by: RDTI Cell, BGMEA 

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