- 630 M dollars income from new area
-23 Pc incomes decrease in India
- Garment exports to US market decreasing
In the eight months from July to February of the current financial year 2023-24, the income of the ready-made garment sector in the major destination countries decreased, but the income in the new market increased by about 11 percent. At this time, the export income from these markets (17) was 6.3 billion dollars.
According to the data of the Export Development Bureau EPB, the total export income from the garment sector in the last eight months of the current financial year was 3,285,640,000 dollars. Compared to the same period of the last financial year, the growth has been 4.77 percent.
One thousand 623 billion 96 million dollars came from Europe, the country's biggest clothing export destination. However, in Germany, Europe's biggest market, the income decreased by 11.63 percent. And among emerging markets, India's revenue fell by about 23 percent. The income is 58 million dollars.
Among other major markets, the revenue from the United States came in at $5.46 billion. The income from the United Kingdom is $385 million. About 1 billion dollars came from Canada.
EPB has fixed the target of export income of 5 thousand 227 million dollars for the current financial year.
Accordingly, to meet the target, the income will be 1 thousand 942 million dollars in the next five months, which is an average income of 388 million dollars. Prior to this, the average revenue in the last eight months was $4.1 billion.
At this time, new potential market income came from Japan 115 million 24 million dollars, Australia 93 million dollars, Russia 33 million 3 million dollars, China 24 million dollars, United Arab Emirates 28 million dollars, Malaysia 25 million dollars and Turkey 27 million dollars.
Meanwhile, Bangladesh has not yet come out of the negative trend of garment exports to the US market. From July-February of the current financial year, ready-made garments worth 546 million dollars have been exported in this market.
This export is 2.58 percent less than the same period of last fiscal year. In the fiscal year 2022-23, the United States exported $8.52 billion worth of ready-made garments. Exports then fell by 5.5 percent.
According to EPB and BGMEA data, in the last eight months of the current financial year, the income from Europe is 1,623 million dollars, the United States is 5.46 billion dollars, the United Kingdom is 3.85 billion dollars, Canada is 1 billion dollars and the income from new markets is 6.3 billion dollars.
ZH
