Bangladesh’s garment exports to Europe rise sharply
According to a report by Bangladesh’s “Financial Express” on September 19, official data from the Export Promotion Bureau of Bangladesh (EPB) showed that Bangladesh’s clothing exports to the European market increased significantly from July to August 2017. The reasons are: first, the safety compliance measures in Bangladesh’s garment manufacturing industry have achieved effective results; second, the exchange rate of the euro against the US dollar has increased; third, orders from China have shifted; and fourth, international buyers have regained confidence in the Bangladesh garment industry. Germany is Bangladesh’s largest clothing export destination in the EU. From July to August 2017, clothing export revenue to Germany reached US$992.39 million, compared with US$904.46 million in the same period last year, a year-on-year increase of 9.72%. Clothing exports to the Netherlands grew the fastest, with an export value of US$178.80 million, a year-on-year increase of more than 41%. Data show that in the 2016/17 fiscal year, Bangladesh’s garment exports totaled US$28.14 billion, of which approximately 63.06% went to the EU market. Bangladesh’s apparel exports to Europe rise sharply
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