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Showing posts from June, 2023

Philippines textiles exports hit record $368 M in FY22

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  Over the years, the Philippines apparel and clothing sector has seen an upward trend. In 2022, the Philippines made a significant amount of growth in the apparel and textile sector. According to the Philippines customs data records, the textile and apparel industry exports were worth around 1.14 billion dollars during the fiscal year 2022. In which, the apparel exports are estimated around 369 million dollars. The United States was among the top markets for apparel exports with over 55% share of Philippines apparel exports. The United States had apparel exports worth around 208 million dollars during FY22. The other leading markets for Philippines apparel exports were South Korea, Canada, Japan, and Italy.  As per Philippines export data reports, the top textile export companies from Philippines were International Ying Ming, Graphica Enterprise, Skylark Garments, DM Garments and Qualitex Garments. As per the Philippines import export data of textiles and clothing, the Uni...

Australia emerged as the leading destination for Bangladesh exports

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  Over the years, Australia has emerged as the leading export destination for Bangladesh. During the financial year 2022-23, the bilateral trade between the two had gained momentum. As per the Bangladesh import export data , the Australia imports from Bangladesh stood at 1.24 billion dollars in 2022. The Bangladesh exports to Australia had been growing at 33% annual growth. Australia has now emerged as the 12 most favoured destination for Bangladesh exports operations. Australia contributes around 2% of the Bangladesh total exports. According to the Bangladesh export data reports, garments, textiles, footwear, leather and jute products were the major imports by Australia from Bangladesh. Other major exports from Bangladesh to Australia include pharmaceuticals, food products, seafood, plastics and live animals. Bangladesh exports to Australia are mostly dominated by the RMG exports. Bangladesh customs data of 2022 reflects that ready garments exports from Bangladesh to Australia we...

Turkey target to raise its jewellery exports to $10B by FY23

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  Turkey is ranked among the top 10 jewellery producing and exporting destinations in the world. It is currently ranked third largest jewellery producer alongside India and Italy. Gold, silver and diamonds are among Turkey's top precious metals exports. According to the Turkey import export data reports, the jewellery exports from Turkey grew tremendously over the years. In the financial year 2021, it had seen growth of 64% and was worth 6.5 billion dollars. While in 2022, the increase was around 1.2%, exports worth 7.3 billion dollars. Now, the Turkish government has planned to excel its jewellery exports to over 10 billion dollars by the financial year 2023. Jewellery is the major occupation in Turkey. Over 2500 people are currently involved in the Turkish jewellery sector. As per Turkey customs data , the United  Arab Emirates was the top importer of jewellery products from Turkey with over 20% share of total Turkish exports. Other major markets for Turkish jewellery expor...

Vietnam-New Zealand trade to reach $2 Billion by FY22-23

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  Recently, the New Zealand's prime minister, Jacinda Ardern paid a visit to Vietnam in order to strengthen the bilateral trade with Vietnam. Both the nations are planning to expand the bilateral trade to $2 billion by 2024 with year on year basis. Delegates from both sides have invested in manufacturing, aviation, consulting sectors. As per the Vietnam customs data reports, Vietnam exports to New Zealand are growing at the rate of 19% annually. According to the Vietnam import export data , the key exports from Vietnam to New Zealand were mainly Electrical, Electronics Equipment, Footwear, Machinery, Furniture and Edible Fruits, Nuts  in 2022. Broadcasting equipment covers over 30% of the total Vietnamese exports to New Zealand. Textile footwear, Leather footwear, Coconuts, Cashews, Cleaning goods and Cargo Ships were the emerging products exported from Vietnam. In the financial year 2022, Vietnam exports to New Zealand were around 946 million dollars. On the other hand, Viet...