December 28, 2023
DHAKA – Earnings from garment export from Bangladesh increased by 4.35 percent in the January-November period to $42.83 billion, mainly to non-traditional markets, according to data from the Export Promotion Bureau (EPB).
According to data from World Trade Organization (WTO), the global size of garment trade in 2022 was $576 billion and in 2023 the amount will be a little bit less because of the geopolitical challenges.
In the January-November period, garment shipments to Europe increased by only 2.28 percent, according to data compiled by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
In the US, the earnings from garment export in the same period declined by 9 percent, it said.
Meanwhile, garment shipments to non-traditional markets except the US, Canada, the UK and the EU, increased by 22.53 percent in the January-November period of the current year compared to the same period of last year.