Bangladesh’s RMG exports increased 24 per cent to $4.21 billion during the July-February period of FY2021-22. As per a Textile Today report, Bangladesh has been reporting a significant improvement in garment exports since the outbreak of COVID-19. The country’s exports to the US, UK, Canada and the European Union (EU) have been surging while exports to new markets are also recording a growth of over 10 per cent.

Export Promotion Bureau’s (EPB) stats show, Bangladeshi entrepreneurs exported garments worth $4.21 billion to new markets during the eight-month period. Their exports amounted to BDT 38,290 crore in domestic currency while export earnings surged 23.61 percent ahead of the same period of the previous financial year. Mohammad Hatem, Executive President, BKMEA says, Bangladesh is emerging as the most preferred garment supplier amongst other apparel exporting countries like Vietnam, Cambodia, Myanmar etc.

In the first eight months of the current financial year, Bangladesh exported RMG products worth $ 27.49 billion. Of these, 13.65 billion worth of products were exported to the EU countries, 5.77 billion to the US, 2.93 billion to the UK and 0.82 billion to Canada. Among the new markets, exports to Japan totaled $730 million during July-February FY2021-22 while garments worth $560 million were exported to Australia.

Russia’s RMG imports increased 35.30 per cent to $480 million in the first eight months of the current financial year.