Bangladesh plans to double its garment exports to Australia

According to a report by Bangladesh’s “Business Standard” on July 22, Bangladesh plans to double its apparel exports to Australia in the next five years. Australia is the largest potential exporter of Bangladesh’s apparel. One of the markets. Industry insiders in Bangladesh said that Bangladesh can learn from its experience in Europe and the United States and continue to seize share of China’s withdrawal from the Australian clothing market. According to data from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh’s apparel exports to Australia in fiscal year 2023 were US$1.2 billion, a year-on-year increase of 42%. At present, China is Australia’s largest importer, with a market share of 63%. Bangladesh is Australia’s second largest clothing importer, but China’s clothing exports to Australia are showing a clear downward trend. Bangladesh has an opportunity to expand apparel exports to Australia.