Bangladesh’s RMG exports to all its major markets declined during the July to November period due to global economic situation, a decline in demand and policies of the Western countries. 

As per a report by the Export Promotion Bureau (EPB) and BGMEA, Bangladesh’s RMG exports to the EU fell by 0.15 per cent in the five months from July to November of the current fiscal year compared to the same period of the previous fiscal year. Exports to the largest markets within the eu, Germany fell by 15 per cent to $231 million in the last five months..

Bangladesh’s apparel exports to the United States declined by 5.76 per cent to $328 million in the last five months. The US share of total apparel exports fell to 17 per cent during the period..

According to Dr. Abdur Razzaq, Chairman, Rapid, the reason for this decline in exports to the US market is the fear of sanctions, and reduced demand in the country. 

Exports to Canada decreased by 2.71 per cent to nearly $61 million with the share of this market in the total exports of garments decreasing from 3.40 to 3.22 per cent.