Bangladesh exports of apparel to Europe have risen sharply
Official data from the Bangladesh Bureau of Export Promotion (EPB) showed that in July-August 2017, Bangladesh's clothing exports to the European market rose sharply, according to a report by the Financial Times in Bangladesh on September 19. The reasons are as follows: Firstly, the safety and compliance measures in the garment manufacturing industry in Bangladesh are effective; secondly, the exchange rate of the euro is higher against the U.S. dollar; thirdly, the transfer of orders in China; fourth, international buyers regain confidence in the garment industry in Bangladesh. Germany is Bangladesh's largest garment export destination in the EU. From July to August 2017, the export of garments to Germany reached 992.39 million U.S. dollars, up from 904.46 billion U.S. dollars last year, an increase of 9.72% over the same period of last year. Exports to the Netherlands grew most rapidly with exports of $ 178.8 million, an increase of more than 41% over the same period of last year. Data show that in the 2016-17 fiscal year, Bangladesh's garment exports totaled 28,140 million US dollars, about 63.06% to the EU market.