13 April 2023, Mumbai
According to official statistics, apparel exports to major markets such as the USA, Germany, and Canada have experienced negative growth during the January-March period of 2023.
However, exports to the European Union (EU) increased by 3.69% in dollar values, with declines in Germany but growth in France and Spain.
Exports to other countries in the EU, such as Poland, Austria, Slovenia, Latvia, and Lithuania, declined year-over-year. Apparel exports to the USA also declined by about 16% year-over-year, while exports to the UK grew by 14.04% and exports to Canada declined by 2.36% during the same period.
On the positive side, apparel exports to non-traditional markets showed a significant rise of 39.25% growth, with exports to Japan, India, Australia, Turkey, Brazil, and South Korea showing year-on-year growth.
The BGMEA is actively working to explore new markets and implement policy reforms to simplify business processes and sustain long-term growth.
CREDITS: BGMEA Press Release.
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