Bangladesh's garment exports rise 10.27%, hits $46.9 bn in FY22-23

RMG exports from Bangladesh were 0.41 per cent higher than the target of $46.800 billion for the fiscal 2022-23, as per EPB data. Exports of knitwear (Chapter 61) increased by 10.87 per cent to $25.738 billion in the fiscal, as against exports of $23.214 billion during the previous fiscal 2021-22. 

Exports of woven apparel (Chapter 62) increased by 9.56 per cent to $21.253 billion during the period under review, compared to exports of $19.398 billion during July-June 2022, as per the data. 

Home textile exports (Chapter 63, excluding 630510) decreased by 32.47 per cent to $1,095.29 million during the period under review, compared to exports of $1,621.93 million during July-June 2022. 

At the same time, woven and knitted apparel, clothing accessories and home textile exports together accounted for 86.55 per cent of Bangladesh’s total exports of $55.558 billion during FY23. 

In 2021-22, Bangladesh achieved an all-time high in the value of its RMG exports, reaching $42.613 billion, which represents an increase of 35.47 per cent compared to the exports of $31.456 billion in fiscal 2020-21. Despite the global slowdown, Bangladesh has succeeded in achieving an impressive growth in garment exports in FY 2022-23. 

ALCHEMPro News Desk (KUL)