Bangladesh's RMG exports up 1.72% to $23.39 bn in July-Dec

While knitwear exports exceeded woven garments, the overall RMG exports did not meet the $25.389 billion target set for July-December 2023, falling short by 7.87 per cent. 

In the first six months of the current fiscal, exports of knitwear (Chapter 61) rose by 6.48 per cent to $13.480 billion, compared to $12.659 billion during the corresponding period of the previous fiscal 2022-23. Conversely, woven apparel exports (Chapter 62) witnessed a decline of 4.12 per cent, totalling $9.911 billion, down from $10.337 billion in July-December 2022, as per EPB data. 

However, home textile exports (Chapter 63, excluding 630510) experienced a significant decline, dropping by 38.48 per cent to $369.91 million, compared to $601.26 million in the same period in 2022. Collectively, woven and knitted apparel, clothing accessories, and home textile exports constituted 86.26 per cent of Bangladesh's total exports, amounting to $27.540 billion for the quarter. 

Despite the global economic slowdown, Bangladesh's RMG exports demonstrated resilience, reaching $46.991 billion in fiscal 2022-23, an increase from $42.613 billion in fiscal 2021-22 and $31.456 billion in fiscal 2020-21. 

The shipment of cotton, yarn, waste, fabric, etc (Chapter 52) surged by 72.15 per cent to $264.05 million in the period under review. This figure stood at $153.38 million during the same period last year. Exports of man-made filament and staple fibre (Chapters 54-56) also increased by 37.97 per cent to $150.86 million from $109.34 million. The country's export of specialised textile (Chapters 58-60, including terry towel, special woven fabric, knitted fabrics, and others) was valued at $151.80 million, marking a gain of 25.70 per cent from $120.76 million in July-December 2022. 

ALCHEMPro News Desk (KUL)