The role of non-traditional markets in boosting Bangladesh’s readymade apparel exports was evidenced once again after apparel exports to the non-traditional destinations posted a growth by 21.77 per cent, to US $ 5.68 billion in the just concluded fiscal year.
The overall apparel exports, including both the traditional and non-traditional markets, hit US $ 34.13 billion during the period.
According to data of Bangladesh’s Export Promotion Bureau (EPB), of US $ 34.13 billion, non-traditional export destinations accounted for US $ 5.68 billion-worth apparel imports from Bangladesh while traditional markets, mainly the USA and the Europe, contributed the remaining US $ 28.44 billion.
It may be mentioned here that Australia, Brazil, Chile, China, India, Japan, Korea, Mexico, Russia, South Africa and Turkey are considered as major non-traditional export destinations for Bangladeshi products.
Apparel exports to India rose by 79.09 per cent, the highest growth of apparel registered in the just concluded fiscal year while China became the second largest non-traditional market for the country’s RMG, importing products worth US $ 506.51 million, up by 29.33 per cent from the previous year.
Japan meanwhile imported apparels worth US $ 1.09 billion, which was 28.90 per cent higher from the previous year.