Bangladesh’s apparel exports to non-traditional destinations increasing

Notwithstanding the negative apparel export growth to the major destinations, shipments of ‘Made in Bangladesh’ apparel to non-traditional destinations are on the rise.

Media reports maintained this while adding garment shipments to non-traditional markets — all markets except US, UK, EU and Canada as non-traditional from Bangladesh’s perspective — rose 28.95 per cent to US $ 2.96 billion.

This is around 19.01 per cent of Bangladesh’s annual garment exports.

Japan emerged as the top destination among major non-traditional markets, fetching US $ 566.99 million during the four-month period even as shipments to other non-traditional markets, such as India, South Korea, Australia and Turkey are also on the rise even though exports to Chile, Russia and the UAE have declined on the other hand, as per a statement issued by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Meanwhile, speaking to the media, BGMEA President Faruque Hassan, maintained rising growth of exports to non-traditional markets has been offsetting the declining export trend in the major destinations even if shipments to non-traditional markets, especially some in Asia like South Korea, India, and Japan, will keep growing at the same time, felt Faruque.

Courtesy: APPAREL RESOURCES