Country Report | Market Reports

COUNTRY WISE EXPORT PERFORMANCE FOR JULY-JANUARY OF FY2021-22

Published: February 28, 2022
Author: DIGITAL MEDIA EXECUTIVE

Last week I sent you the RMG export data and analysis for July-January of 2021-22 fiscal year. With the data published by the Export Promotion Bureau, we have just calculated country-wise detailed export data for the mentioned period. I am writing to update you on country-wise performance of our RMG export with a brief analysis. I am sending the data in the attachment for your kind information.

As you know that our RMG export to world grew by 30.30% during July-January of FY2021-22, significant part of the growth was contributed by the U.S. market. During the mentioned seven months, export to U.S.A. reached US$ 5.08 billion with 49.38% growth compared to the same period of previous fiscal year.

Export to European Union (excluding U.K.) was 11.94 billion dollars with 27.06% growth during the mentioned period of time. Among the major European markets Germany, Spain, France, Poland, and Italy posted higher growth, particularly our export to Germany increased by 24.15% and reached 4.02 billion dollars. Other emerging markets in the EU region having significant growth were Hungary 66.49%, Romania 45.93%, Austria 44.45%, and Greece 39.88%.

Our export to UK and Canada also grew by 23% and 26.61% respectively.

During the mentioned time, export to the non-traditional market also increased to US$ 3.67 billion from US$ 2.94 billion. Currently, our clothing export share in the non-traditional markets stands at 15.29%.  Among the major non-traditional markets, Japan is our top destination which fetched US$ 630.67 million during the mentioned period. Export to other non-traditional markets such as Australia, Russia, India, South Korea and UAE are also on the rise.

Since Bangladesh has graduated from LDC, the next few years will be crucial for us. Because after 2026, there will be certain changes in market access, particularly in EU. At this transition period, we need to continue our economic diplomacy for retaining or extending market access facilities after LDC graduation for smoother transition.

From BGMEA, we are taking our campaign to push apparel diplomacy forward. As you know that in the last few months, we visited North America and Europe as part of apparel diplomacy. Last week myself and my colleagues from BGMEA Board visited Brussels and Geneva as a continuation of this initiative. In this visit we met with the Director General of WTO and the Director General of ILO in their respective offices in Geneva. We also met with the Directorate General for Trade and the Director General for Employment, Social Affairs and Inclusion of the European Commission in its Brussels headquarters. These are the first ever bilateral meetings with BGMEA and were quite significant since the EU GSP scheme is being revised and we are graduating from LDC. We have got quite a positive response from all these authorities; I will share with you in detail soon. Moreover, we have also prioritized to conduct such mission in our potential new markets to diversify our market base.

Country wise RMG export to world_FY Jul-Jan_2021-22

Country wise RMG export to world_Last 3 FY

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