Bangladesh's RMG exports surge 13% to $19.8 bn in Jul-Dec 2024

Woven exports marginally outpaced knitwear garment exports in growth. During the first six months of the current fiscal, exports of knitwear (Chapter 61) rose by 13.01 per cent to $10.837 billion, compared to $9.589 billion in the corresponding period of fiscal 2023-24. On the other hand, woven apparel exports (Chapter 62) increased by 13.60 per cent, totalling $9.050 billion, compared to $7.967 billion during the same period, according to EPB data.

Home textile exports (Chapter 63, excluding 630510) experienced growth, increasing by 7.85 per cent to $410.81 million, compared to $380.90 million during the same period in the last fiscal. Collectively, exports of woven and knitted apparel, clothing accessories, and home textiles constituted 83.52 per cent of Bangladesh’s total exports, amounting to $24.533 billion for the period.

Exports of cotton and cotton products, including yarn, waste, and fabrics (Chapter 52), rose by 16.32 per cent to $319.06 million during the period under review, compared to $274.29 million in the same period of the last fiscal.

During December 2024, ready-made garment exports reached $3.770 billion, a 17.45 per cent rise from $3.210 billion in the same month of the previous year. Knitwear garment exports rose by 16.84 per cent to $1.891 billion, and woven garments increased by 18.06 per cent to $1.878 billion in the same month. The outbound shipment of home textiles (Chapter 63, excluding 630510) jumped by 20.47 per cent to $83.98 million in December 2024. The exports of cotton and cotton products rose by 12.02 per cent to $53.51 million from $47.77 million.

The new regime in Bangladesh had earlier revised export data downwards, according to which, RMG exports from the country decreased by 5.22 per cent to $36.151 billion in fiscal 2023–24 (July 2023 to June 2024).

According to the EPB, RMG exports in fiscal 2022-23 amounted to $38.142 billion, compared to the previously reported figure of $46.991 billion. RMG exports were recorded at $42.613 billion in fiscal 2021-22 and $31.456 billion in fiscal 2020-21.

ALCHEMPro News Desk (KUL)