Bangladesh's apparel exports to the European Union during the first six months of the current fiscal year 2022-23 increased by 16 per cent compared to the same period of fiscal year 2021-22.

Apparel exports to Spain and France grew by 17 per cent and 33 per cent during the first six months of the current fiscal year. Exports to Germany grew by three per cent. Exports to the United States grew by one per cent. At the same time, exports to the United Kingdom and Canada grew by 11 per cent and 28 per cent respectively. On the other hand, Bangladesh’s exports to Poland declined by 18 per cent.

Apart from traditional markets, Bangladesh’s apparel exports to non-traditional markets grew by 32 percent in the same six month period. Among non-traditional markets, the country’s exports to Japan grew by 42 per cent. Bangladesh’s exports to India increased by 50 per cent.

In 2022 Bangladesh’s readymade garment exports grew by 27 per cent compared to 2021.

But Bangladesh garment manufacturers and exporters feel these statistics indicate a further possible decline in growth rate in the coming months amid the global fear of an economic recession aggravated by the Russia-Ukraine war.