According to Export Promotion Bureau (EPB), Bangladesh’s RMG exports to tis non-traditional markets maintained negative growth during the first quarter (Q1) of the current fiscal year (FY).
According to industry people, Australia, Brazil, Chile, China, India, Japan, Korea, Mexico, Russia, South Africa and Turkey are the 11 prospective markets beyond the three traditional export destinations, namely, the USA, European Union and Canada.
Exports of both knit and woven items to the non-traditional destinations declined by 8.33 per cent to $ 1.24 billion in Q1 as compared to $1.36 billion in the corresponding period of the last fiscal
Exports to Brazil, Chile, China, India, Japan and Mexico declined by 26.88 per cent, 18.37 per cent, 34.35 per cent, 43.50 per cent, 10.93 per cent and 25.72 per cent respectively in the July-September period.
Exports to Australia, Korea, Russia, South Africa and Turkey, however, increased by 8.28 per cent, 9.22 per cent, 41.69 per cent, 4.19 per cent and 47.74 per cent respectively during the period. The RMG shipments to the US witnessed a rise by 5.98 per cent to $ 1.58 billion during the Q1.