Bangladesh's garment exports up 14.06% to $31 bn in July-Feb 2023

RMG exports from Bangladesh were 4.36 per cent higher than the target of $30.052 billion for July-February 2023, as per EPB data. 

Exports of knitwear (Chapter 61) increased by 13.21 per cent to $17.060 billion in July-February 2023, as against exports of $15.069 billion during the same months of the previous fiscal. 

Exports of woven apparel (Chapter 62) increased by 15.08 per cent to $14.301 billion during the period under review, compared to exports of $12.427 billion during July-February 2022, as per the data. 

Home textile exports (Chapter 63, excluding 630510) decreased by 22.53 per cent to $769.86 million during the period under review, compared to exports of $993.76 million during July-February 2022. 

At the same time, woven and knitted apparel, clothing accessories and home textile exports together accounted for 88.73 per cent of Bangladesh’s total exports of $37.077 billion during July- February 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 positive growth in garment exports in the recent months. 

ALCHEMPro News Desk (KUL)