Bangladesh’s RMG exports to non-traditional markets rise 9.30 % in July-Oct

The growth was largely driven by a sharp increase in exports to Turkey, which more than doubled during the period.

Exports to Turkey surged 107.05 percent to $206.5 million from $99.7 million, adding $106.8 million to the overall export growth of $201.8 million across non-traditional markets.

This means Turkey alone contributed around 53 percent of the total increase.

Turkey’s share of Bangladesh’s RMG exports to non-traditional markets also nearly doubled, rising from 4.60 percent to 8.71 percent. Without the strong performance in Turkey, export growth across these markets would have been limited to around 4.6 percent.

Among the major non-traditional destinations, Japan remained the largest market, with exports reaching $437.3 million, up 2.40 percent from the corresponding period a year earlier. It accounted for 18.44 percent of total exports to non-traditional markets.

Exports to Australia increased 3.01 percent to $264 million, while shipments to South Korea grew 5.82 percent to $151.3 million.

However, exports to India declined 5.38 percent to $250.9 million.

Exports to markets outside the top five destinations rose 8.48 percent to $1.06 billion, accounting for 44.76 percent of Bangladesh’s total RMG exports to non-traditional markets.

In October alone, Bangladesh’s RMG exports to non-traditional markets increased 8.99 percent to $559.7 million.

Turkey continued its strong performance, with exports soaring 75.96 percent to $59.8 million, making it the second-largest destination for the month.

Japan retained the top position with exports worth $93.7 million, registering a 1.64 percent year-on-year increase.

Exports to Australia grew 11.32 percent to $55 million, while shipments to India and South Korea declined 5.41 percent and 4.60 percent to $45.9 million and $30.4 million, respectively, reports UNB.