Bangladesh’s apparel exports to non-traditional markets grew 21.77 per cent in the just concluded fiscal year. Australia, Brazil, Chile, China, India, Japan, Korea, Mexico, Russia, South Africa, and Turkey are the major non-traditional export destinations for Bangladesh. Japan’s imports of apparel goods from Bangladesh were 28.90 per cent higher from the previous year. China’s imports were up 29.33 per cent from the previous year. India’s imports of apparel goods were up by 79.09 per cent. This is the highest growth of apparel registered in the just concluded fiscal year.

Bangladesh’s export earnings from new markets are increasing faster due to diversification initiatives. Manufacturers are participating in global expositions to connect with new buyers, which has contributed a lot to enhanced exports to new markets. Besides, safety improvements in the apparel sector have expedited export growth as they have boosted investors’ confidence, leading to more work orders. Increased cash incentives from three per cent to four per cent for the last fiscal year encouraged exporters to go for new destinations.

Earnings from woven products were 22.91 per cent higher than in the previous fiscal year. Earnings from knitwear products were up 20.68 per cent from a year ago.