RMG exports to Germany now recovering

Germany is the second biggest export market of Bangladesh. According to  Holger Fraider, Deputy Head of the Mission, German Embassy in Dhaka, the industry is slowly recovering as the labour unrest in the readymade garments (RMG) sector had shaken buyers' confidence driving them away to other countries last year. Old buyers started coming back to Bangladesh, because Bangladesh is giving the best deals and the port is functioning better than before.

The two-way trade in 2007 amounted to 1.71 billion Euro compared to 1.88 billion Euro in 2006. Bangladesh export to Germany in 2007 amounted to 1.50 billion Euro, showing a 4.8% decrease, and imports from Germany amounted to 215 million Euros, showing a decrease of more than 29% during the period.

About 96% of Bangladesh exports to Germany consisted of readymade garments articles, followed by seafood (1.5%) and jute and jute related products (less than 1%). The machinery for textile, leather and  other industries amounts to one third of the German exports to Bangladesh in 2007.