Bangladesh’s apparel exports to nontraditional markets declined sharply in the third quarter of the current fiscal. Reason: sluggish global demand, low unit price of garment pieces and high duty in these markets. Exports of readymade garments to non-traditional markets grew by 1.57 per cent in the July-March period of the fiscal year 2016-17.
The nontraditional markets are: Australia, Japan, China, Chile, Brazil, Japan, Russia, South Africa, New Zealand, Malaysia, Korea, India and Turkey. Exports to Brazil, Mexico, South Africa and Korea dropped 26.97 per cent, 16.97 per cent, 16.86 per cent and 14.87 per cent July-March 2016-17 fiscal compared to the corresponding period of last fiscal.
While shipments to Australia and India declined by more than seven per cent, exports to Japan and Turkey witnessed a meager growth of 2.11 per cent and 0.29 per cent. On the whole, exports of readymade garments to non-traditional markets grew 1.57 per cent in the July-March period of the fiscal year 2016-17.
On the other hand, income from some traditional and major markets such as Belgium, UK, USA and Canada fell by 6.89 per cent, 6.85 per cent, 7.56 per cent and 6.41 per cent during July-March 2016-17 fiscal.