Germany has overtaken the United States and become the largest export market for Bangladesh’s readymade garments. Due to strong economic activities in Europe, especially in Germany, and preferential treatment received by Bangladeshi exporters, Europe’s largest economy has become the largest market for Bangladeshi garment products.

Bangladesh’s readymade garment exports to Germany grew 8.65 per cent in fiscal ’18 against a growth of 2.84 per cent in the US market. Export earnings from the UK, the third highest export destination for Bangladesh, increased by 11.76 per cent. Readymade garment exports to the UK grew by 12.63 per cent. Export earnings from France grew by 5.94 per cent. Readymade garment exports to the market grew by 4.94 per cent.

Export earnings from Spain in fiscal ’18 grew by 21.40 per cent. Readymade garment exports from Spain in the period were 21.24 per cent higher than earnings in the previous fiscal year. Export earnings from Poland grew by 20.53 per cent. Earnings from Poland by exporting readymade garment products grew by 20 per cent.

In Asian markets, export earnings from China slumped by 26.80 per cent. Export earnings from Japan grew by 11.74 per cent. Readymade garment exports to the market grew by 13.73 per cent. Export earnings from India grew by 29.87 per cent. Readymade garment exports to India in the period grew by 114.68 per cent.