As per the statistic of EPB, during the mentioned period, our apparel exports to the European Union (EU) increased by 23.21% and reached US$ 3.45 billion which was US$ 2.79 billion in July-August of FY 2021-22. Our export to Germany grew by 16.44% on year-on-year basis.  Export to Spain and France grew by 24.52% and 37.73% with an amount of US$ 574.70 million and US$ 370.80 million respectively during the first two months of current fiscal year 2022-23.  Other countries in EU region having significant growth were Slovenia 98.72%, Greece 81.42 %, Hungary 117.99%, Croatia 79.55% and Czech Republic 57.21%.

Our RMG export to U.S.A. stood US$ 1.41 billion in July-August, 2022-23 with 20.52 % Y-O-Y growth. At the same time, export to U.K. and Canada reached US$ 819.86 million and US$ 227.03 million, with 35.64 % and 18.49% growth respectively.

At the same period, our apparel export to non-traditional markets grew by 37.90% to US$1.20 billion from US$ 874.47 million in the corresponding period of previous year. The performance of the non-traditional countries are relatively better than major markets. Among the non-traditional markets, export to Japan reached US$ 217.53 million dollars with 25.81% growth. Our export to India also increased significantly by 98.92%, which is US$ 188.29 million. Export to South Korea and Australia also grew by 69.64% and 30.90% respectively. On the other hand, export to Russia and China have declined by 58.29% and 13.21% respectively. Other countries with significant growth were Turkey 120.85%, Malaysia 115.51%, Mexico 66.24%, and Brazil 62.70%.

Though we saw a robust export performance in past one year, that is between August 2021 to August 2022, the outlook depicts a downtrend from this month mainly due to global economic turmoil and record inflation affecting retail business. A few global brands are already suffering from decline in sales and unsold stocks, so they are halting current orders and production at our end. Altogether the coming months may be quite challenging, yet we must try our best to explore avenues to new opportunities as well as to optimize resource efficiency.

Country wise BDs RMG export to world_July-Aug 2022