Bangladesh's garment exports rise 12.46% to $7.9 bn in July-Aug 2023

RMG exports from Bangladesh were 1.46 per cent higher than the target of $7.883 billion for July-August 2023, according to EPB data. Exports of knitwear (Chapter 61) increased by 17.02 per cent to $4.582 billion in the first two months of current fiscal, as against exports of $3.915 billion during the same period of the previous fiscal, 2022-23. 

Exports of woven apparel (Chapter 62) increased by 6.86 per cent to $3.416 billion during the period under review, compared to exports of $3.196 billion in July-August 2022, as per the data. 

Home textile exports (Chapter 63, excluding 630510) decreased by 53.40 per cent to $125.14 million during the period under review, compared to exports of $268.52 million in July-August 2022. 

At the same time, woven and knitted apparel, clothing accessories, and home textile exports together accounted for 86.65 per cent of Bangladesh's total exports of $9.375 billion during July-August 2023. 

RMG exports were noted at $46.991 billion during fiscal 2022-23, compared to exports of $42.613 billion in fiscal 2021-22. Earlier, it was noted at $31.456 billion in fiscal 2020-21. Despite the global slowdown, Bangladesh has succeeded in achieving growth in its garment exports. 

ALCHEMPro News Desk (KUL)