2021 was a comeback year for the readymade garment (RMG) export industry of Bangladesh. With European market remain as one of the top export destinations of the country.
As the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Export Promotion Bureau (EPB) published data shows that in the July-October period of FY 2021-22, Bangladesh exported $7.60 billion – up by16.86% on Y-o-Y – apparel to EU and UK market, despite COVID-19 insecurity still being a danger in EU countries.
Among Bangladesh’s export to the EU, the top 4 export destinations – Germany, UK, Spain, France markets register around 67.35% of Bangladesh’s total RMG export value in the EU + UK markets, while left 32.65% is shared by the rest of 24 countries!
Germany remained the top exporting destination during this period with a $2.10 billion export, noticing 13.66% annual growth.
Followed by the United Kingdom with $1.45 billion export in the July-October period of FY 2021-22. Growing by 16.40%, according to EPB data. While apparel export in Spain was $0.946 billion, growing by 25.19% annually.
The 4th top market for Bangladesh in Europe – France imported $0.631 billion during the period, growing by 8.73%.
Apart from these markets, Poland, Netherlands, Italy, Belgium, Denmark and Sweden also remained positive in their imports from Bangladesh during July-October ’21 period.