Bangladesh saw marginal rise in its RMG exports in CY 2019. The country upped its export by just 0.44 per cent to clock US $ 33.07 billion revenue, according to Export Promotion Bureau (EPB), Bangladesh.
Knitted garments earned US $ 16.44 billion marking 1.24 per cent growth on Y-o-Y basis, while contribution of woven garments stood at US $ 16.63 billion, which fell 0.30 per cent on the yearly note.
As far as region-wise export is concerned, EU remained the top export destination with US $ 20.44 billion worth of shipment. However, RMG shipment plunged by 0.79 per cent in the Union in 2019 over 2018.
According to data analysed by BGMEA, the share in EU is continuously dipping over the years. Out of overall apparels exported from Bangladesh, EU contributed 61.75 per cent in 2019, which is lesser than the share in 2018 (62.5 per cent) and 2017 (64 per cent).
Further, USA remained the single largest export destination for Bangladesh with US $ 6.02 billion (up 3 per cent) worth of shipment. The share of US was 18.20 per cent in total apparel export value, while it was just 17.75 per cent in 2018.
When it comes to countries and regions other than EU and USA, Bangladesh saw RMG export worth more than US $ 1 billion in just two countries: Canada and Japan.
In 2019, Canada imported apparels from Bangladesh worth US $ 1.12 billion growing by 5.41 per cent on the yearly note, while exports to Japan value at US $ 1.07 billion with a decent growth of 4.15 per cent.
Bangladesh may have fallen in the EU, but it noted decent growth in non-traditional markets. India has become a good market for the country and, in 2019, the neighbouring country imported US $ 512.38 million worth of apparels from Bangladesh, which grew by 16.92 per cent on Y-o-Y basis.