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India and Poland are new billion $ export markets for Bangladesh

India, Poland set to become $1b export markets of Bangladesh in the current financial year 2018-19 due to the extraordinary performance of garment products. Exporters said that it was good news for Bangladesh as the country was getting two new, billion-dollar markets, in addition to the nine billion-dollar markets.

India & Poland new apparel export markets BD

According to EPB data, export earnings from India in the first nine months of FY 19 stood at $985.32 million which was 59.72% higher than $616.90 million earnings in the same period of last fiscal year.

Export to Poland in July-March of FY 19 grew by 27.88% to $924.85 million from $723.18 million in the same period of FY 18.  RMG export to Poland in nine months of the FY 19 increased by 32.35% to $854.36 million from $645.49 million in the same period of last fiscal, data showed.

Earnings from both countries will easily cross $1 billion marks in the next three months of the FY, said EPB officials.

BD Export earnings from major sources in July –March 2019
Figure: Export earnings from major sources in July –March in millions of $ Source: EPB

Bangladesh’s RMG export to India would increase more in coming days as good numbers of global brands were opening stores there.

EPB data also showed that Country’s export earnings in last FY 18 stood at $36.66 billion and the earnings were mostly concentrated to the eight-billion-dollar markets — United States, Germany, the United Kingdom, Canada, Spain, France, Italy, Netherlands and Japan.

Export to Germany, the second largest export destination for Bangladesh, in July-March of FY 19 grew by 8.93% to $4.85 billion from $4.45 billion in the same period of FY 18.

RMG exports to the market in the period increased by 9.20% to $4.59 billion.

Export earnings from the United Kingdom, the third largest export destination for Bangladesh, in nine months of FY 19 achieved a minimal growth of 3.63% to $3.15 billion while RMG export in the market stood $2.91 billion with a 2.32% growth in the period.

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