According to EPB data, Bangladesh's exports of readymade garments to the European Union (EU) reached $16.23 billion from July to February of the fiscal year 2023-24, showing a growth of 3.27% compared to the same period of the previous fiscal year.

EPB data also cited that exports to Spain, France, the Netherlands, Poland, and Denmark increased by 8.68%, 4.72%, 14.55%, 21.82%, and 32.81% respectively during the same period. However, exports of readymade garments to Italy declined by 0.93%.

On the other hand, data also revealed that exports to Germany, the largest export market within the EU, decreased by 11.63% compared to the period from July 2022 to February 2023, amounting to $4.09 billion.

Meanwhile, in the first eight months of the fiscal year 2023-24, Bangladesh's exports of readymade garments to the United States reached $5.46 billion, showing a decrease of 2.58%.

Additionally, Bangladesh's exports of readymade garments to the United Kingdom and Canada reached $3.85 billion and $0.99877 billion respectively in the fiscal year 2023-24, representing a year-on-year increase of 14.64% and 1.81% respectively.

Mohiudddin Rubel, Director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), stated that exports of readymade garments to non-traditional markets grew by 10.83% during July to February of the fiscal year 2023-24, increasing from $5.68 billion to $6.30 billion compared to the same period of the previous year.

Among the major non-traditional markets, exports to Japan, Australia, and South Korea increased by 7.12%, 21.29%, and 17.16% respectively. However, he also disclosed that exports of readymade garments to India from Bangladesh decreased by 22.99%.

Is the Readymade Garments Market Profitable?

According to Tendata statistics, Bangladesh's exports of readymade garments globally have shown an overall upward trend from March 2023 to February 2024, indicating an expanding export market. This presents a significant opportunity for readymade garments exporters in Bangladesh. 

How Can You Seize This Opportunity and Tap into Bangladesh's Export Market?

By using Tendata statistics, you can search for buyers in demand! When you're not satisfied with small-scale wholesale products and need to find more channels, Tendata statistics can directly help you find buyers in demand.

Simply log in to Tendata statistics, select Bangladesh, and enter "READYMADE GARMENTS" to immediately find buyers who have engaged in readymade garments trade with Bangladesh through statistics! You can also use statistics' advanced filters to narrow down the search results by selecting the timeframe, such as the past year, past three months, or past month, to further align with your requirements. Isn't that exciting? Quickly contact Tendata statistics to get a free demonstration!