Bangladesh’s ready-made garment exports to unconventional or new markets are increasing. However, the growth rate of ready-made garment exports to new markets is much lower than that of major markets like the European Union (EU), the United States and Canada.
In the first 9 months of the current fiscal year 2024-25 (July-March), ready-made garment exports worth $5.12 billion were exported to new markets. This export is 6.66 percent more than the $4.8 billion exported in the same period of the last fiscal year. However, so far in the current fiscal year, ready-made garment exports have grown by 11 percent to the EU, 17 percent to the United States and 15 percent to Canada.
The BGMEA, an organization of ready-made garment industry owners, has reported this information after analyzing data from the Export Promotion Bureau (EPB). According to the information provided by them, ready-made garment exports worth $3.25 billion were exported in the first 9 months of the current fiscal year. Of this, 50 percent of ready-made garments go to the EU, 19 percent to the United States, 11 percent to the United Kingdom, 3 percent to Canada and 17 percent to new markets.
