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Demand of Bangladeshi ready-made garments increasing in non-traditional markets

Rtv news

  30 Jun 2024, 11:17
Photo: File picture

Unconventional market has opened the door of a new possibility in the garment sector of Bangladesh. Due to the increasing demand in new markets, the country's ready-made clothing sector is continuing its success in export earnings. In the current financial year, overall export income has increased in this sector. However, significant growth is being observed in non-traditional market revenues.

According to the latest data from the Export Development Bureau, export earnings of apparel products from non-traditional markets increased by 6.47 percent to 8.18 billion dollars from July 2023 to May 2024, as against 7.689 billion dollars in the same period last year.

According to the Export Development Bureau, 18.67 percent of the total export earnings came from new markets.

On the other hand, the overall export earnings in the ready-made garment sector increased by 2.86 percent. In the first 11 months of the current financial year, the total income of this sector was 4 thousand 385 crore 6 million dollars, which was 4 thousand 263 crore 3 million dollars in the same period of the previous year.

Among the non-traditional markets, the highest revenue came from Japan. In the first 11 months of the current financial year, the export revenue of Japanese-made garments was 1.48 billion 46 million dollars, which is 1.83 percent more than the previous year. Last year the export was 145 crore 79 lakh dollars.

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