Bangladesh's RMG exports up 2.86% to $43.85 bn in July-May 2024

While knitwear exports exceeded woven garments, the overall RMG exports did not meet the $47.474 billion target set for July-May 2024, falling short by 7.63 per cent.

In the first eleven months of the current fiscal, exports of knitwear (Chapter 61) rose by 6.15 per cent to $24.709 billion, compared to $23.278 billion during the corresponding period of the previous fiscal 2022-23. Woven apparel exports (Chapter 62) eased by 1.09 per cent, totalling $19.141 billion, against $19.352 billion in July 2023-May 2024, as per EPB data.

Home textile exports (Chapter 63, excluding 630510) experienced a significant decline, dropping by 24.29 per cent to $776.06 million, compared to $1,024.98 million in the same period last fiscal. Collectively, woven and knitted apparel, clothing accessories, and home textile exports constituted 85.19 per cent of Bangladesh’s total exports, amounting to $51.542 billion for the period.

The exports of cotton and cotton products including yarn, waste, and fabrics (Chapter 52) jumped 34.04 per cent to $502.88 million in the period under review. The trade was noted at $375.16 million during the same period of the last fiscal.

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.

ALCHEMPro News Desk (KUL)