Bangladesh’s readymade garment exports to non-traditional markets grew by 24 per centfrom July 2022 to October 2022. Of the total amount, export revenue from woven products grew by 29 per cent.

Earnings from knitwear goods were up by 19 per cent. From July 2022 to October 2022 apparel exports to Japan rose by 26 per cent. Exports to India rose by 55 per cent.

Garment exports to Australia grew by eight per cent. Apparel exports to South Korea saw a 40 per cent growth. Apparel export earnings to Mexico grew by 46 per cent. Bangladesh is exploring new destinations to make the garment sector sustainable. Exports to non-traditional markets have grown from less than a billion dollars to five billion dollars in the last 12 years.

Fashion buyers have increased confidence in Bangladesh due to quality products and timely delivery. In the last few years, the country has made huge progress in the areas of responsible and sustainable manufacturing. But several initiatives are needed to fully utilize the potential of the markets. There is a need to look beyond the conventional pattern of business and growth, and prioritize investments in technologies, modernization, skills, efficiency, and diversification in the product range, which will add more value to the country’s business and competitiveness.