How did Bangladesh perform in the major markets last fiscal?

by Apparel Resources

01-September-2018  |  8 mins read

Image Courtesy: riflinegroup.com

Bangladesh’s apparel exports ended fiscal 2017-18 on a high, crossing the US $ 30 billion export target and registering an impressive growth of 8.76 per cent on a year-to-year basis – very much in line with the US $ 50 billion export target by 2021.

As analysed by Apparel Resources, knitwear exports fetched a total of US $ 15.18 billion during the fiscal, jumping a whopping 10.4 per cent on a year-to-year basis. On the other hand, woven exports fetched US $ 15.42 billion – a growth of 7.18 per cent. Combined, apparel exports occupied over 83 per cent of Bangladesh’s total exports – as usual.

But how did Bangladesh fare in exports to its major individual markets? Here’s how:

1. United States

United States remained the biggest market – country wise – for apparel export for Bangladesh. During the fiscal 2017-18, products worth US $ 5.98 billion were exported – which is over 16 per cent of the total export of Bangladesh. Export earning was 2.3 per cent higher compared to the US $ 5.84 billion exported during 2016-17.

The main exported item in this market was woven garments at US $ 3.97 billion, followed by knitwear products at US $ 1.37 billion, home textiles at US $ 180 million, and caps at US $ 126 million. US procured over 25 per cent of Bangladesh’s woven products, 9 per cent of knitwear and 18 per cent of home textiles products.

2. Germany

The next biggest export market was Germany at US $ 5.89 billion – which witnessed a major surge during 2017-18, basking over 7.5 per cent gain. Bangladesh fetched over 16 per cent of its total export sum from this European country.

The main exported item in Germany were knitwear products which fetched US $ 3.2 billion, followed chronologically by woven garments at over US $ 2.3 billion, and home textiles at US $ 83 million. Notably, Germany procured over 21 per cent of Bangladesh’s knitwear products and 15 per cent of woven garments.

3. United Kingdom

The third biggest trade partner of Bangladesh, the United Kingdom, contributed to over US $ 3.9 billion of export earnings. The Britain, despite uncertainty with Brexit concerns, saw over 10 per cent of total export shipping from Bangladesh. The major export items to this country were knitwear products at over US $ 1.89 billion, closely followed by woven products at over US $ 1.82 billion, and home textile at US $ 76 million.

4. Spain

Bangladesh exported US $ 2.45 billion worth of products to Spain – 6.7 per cent of the country’s total export basket. Garment products occupied the most of the basket with knitwear products remaining the top item fetching US $ 1.2 billion, followed by woven garments at over US $ 1 billion, and home textile at over US $ 27 million.

5. France

Bangladesh exported a total of US $ 2 billion worth of products to France during this fiscal, which was nearly 5.5 per cent of the country’s total export. The major product exported was knitwear at US $ 1 billion, woven garments at US $ 780 million, and home textile worth US $ 65 million.

6. Italy

Italy, yet another major European market, fetched US $ 1.5 billion for Bangladesh, occupying over 4.2 per cent of the country’s exports. The prime export item was knitwear at US $ 947 million, followed by woven garments worth US $ 506 million, and home textiles at US $ 21 million.

7. Netherlands

The Dutchmen imported US 1.2 billion worth of goods from Bangladesh and occupied over 3.2 per cent of the country’s export basket during 2017-18. During this time, the major export item was knitwear at US $ 520 million, followed by woven garments at US $ 414 million, and home textiles at US $ 48 million.

8. Canada

Canada imported US over $ 1.1 billion worth of products from Bangladesh – occupying 3 per cent of Bangladesh’s export pie. The main exported items were knitwear products which fetched US $ 411 million, followed by woven garments at US $ 552 million, and home textiles at US $ 81 million.

9. Japan

The highest growth in Bangladesh’s apparel exports was witnessed in Japan, which saw a very impressive 13.7 per cent gain. The total amount of export to the Asian country was US $ 1.1 billion during 2017-18, occupying over 3 per cent of Bangladesh’s total export basket – the top spot being taken by knitwear products at US $ 444 million, followed by woven garments at US $ 401 million, and home textiles at US $ 47 million.

10. Belgium

The Belgians imported US $ 877 million worth of goods from Bangladesh – an occupation of 2.39 per cent of the export pie. The major export items were knitwear products at US $ 385 million, followed by woven garments at US $ 319 million, and home textiles at US $ 11 million.

11. India

Neighbouring country India procured goods worth US $ 873 million from Bangladesh – occupying over 2.3 per cent of the total export basket. In this market, woven garments emerged as the dominant export segment with earnings of over US $ 207 million, followed by jute and jute-based products at US $ 166 million, knitwear products at US $ 71 million, and cotton and cotton-based products at US $ 21 million. It is to be noted, during 2017-18, apparel exports to India witnessed a surge – exporting almost double (US $ 278 million) compared to what was seen back in 2016-17.

12. Australia

Exports to Australia amounted to US $ 712 million – a near 2 per cent occupation of Bangladesh’s export basket. Also, here, knitwear remained the dominant export product fetching US $ 391 million, followed by woven garments at US $ 242 million, and home textile at over US $ 49 million.

13. China

Bangladesh’s total exports to China amounted to US $ 694 million. During the fiscal 2017-18, the highest exported items were woven garments at US $ 233 million, followed by knitwear products at US $ 157 million, and home textiles at US $ 13 million. It is to be noted that Bangladesh has sought duty-free market access from China, which will further boost trade.

14. Turkey

Total exports to Turkey amounted to US $ 528 million – woven garments occupying the spot of the most exported item, fetching US $ 178 million, followed by knitwear products at US $ 85 million, and jute and jute-based products at US $ 230 million. It is to be noted that Bangladesh is eyeing to sign a free-trade agreement with Ankara to boost trade.

15. Russia

Bangladesh exported goods worth US $ 485 million to Russia. The dominant export item was knitwear which fetched US $ 260 million, followed by woven garments at US $ 167 million, and home textiles at US $ 12.5 million. It is to be noted that Bangladesh is seriously considering ways to give a boost to its apparel export to this country.

Image Name: Photo of Chittagong port, Bangladesh’s principal port that handles over 80 per cent of its export-import activity

(The data has been compiled by Apparel Resources. Source: Export Promotion Bureau)

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