Bangladesh’s garment exports to non-traditional markets are facing obstacles, with the number of garments exported to these markets showing negative growth in the first quarter of this year.
Data show that garment shipments to traditional markets such as the United States, the European Union and Canada will increase from 2020 to It started to gradually pick up during the July-September period of FY21.
According to industry insiders, Australia, Brazil, Chile, China, India, Japan, South Korea, Mexico, Russia, South Africa and Turkey are the three traditional export markets of the United States, the European Union and Canada. 11 potential markets outside the destination. According to the Export Promotion Bureau, exports of knitted and woven goods to non-traditional destinations fell 8.33% to US$1.24 billion in the first quarter, compared with US$1.36 billion in the same period of the previous fiscal year.
Exports to Brazil fell by 26.88%, Chile by 18.37%, China by 34.55%, and India by 43.50%, Japan dropped by 10.93%, and Mexico dropped by 25.72%. During the same period, exports to some non-traditional markets recorded growth, including Australia (8.28%), South Korea (9.22%), Russia (41.69%), South Africa (4.19%) and Turkey (47.74%). In the first quarter of this year, garment shipments to the United States increased by 5.98% to $1.58 billion.
Data show that in the first quarter, the EU’s clothing imports were worth US$5.02 billion, an increase of 1.58%; Canada’s clothing imports were worth US$270.9 million, an increase of 5.83%.
Bangladesh earned US$4.78 billion from non-traditional markets last fiscal year, accounting for 17.10% of the total ready-made garment exports of US$27.94 billion. Exporters attribute weak global demand over the past few years to a decline in apparel exports to non-traditional markets, with the pandemic further exacerbating the situation. They also blamed the decline on high tariffs in some emerging countries, especially Brazil.
Fazlee Shamim Ehsan, director of the Bangladesh Knitted Garment Manufacturers and Exporters Association, said exports from traditional markets have increased because canceled or suspended orders are now being shipped. He said the number of cancellations from non-traditional destinations was not as large as in traditional markets such as the United States or the European Union, so orders there were not recovering. </p
