Bangladesh's RMG exports up 4.77% to $32.85 bn in July-Feb

While knitwear exports exceeded woven garments, the overall RMG exports did not meet the $34.664 billion target set for July-February 2024, falling short by 5.22 per cent.

In the first eight months of the current fiscal, exports of knitwear (Chapter 61) rose by 8.98 per cent to $18.592 billion, compared to $17.060 billion during the corresponding period of the previous fiscal 2022-23. Conversely, woven apparel exports (Chapter 62) witnessed a decline of 0.26 per cent, totalling $14.264 billion, down from $14.301 billion in July-February 2023, as per EPB data.

Home textile exports (Chapter 63, excluding 630510) experienced a significant decline, dropping by 29.94 per cent to $539.35 million, compared to $769.86 million in the same period in the last fiscal. Collectively, woven and knitted apparel, clothing accessories, and home textile exports constituted 86.84 per cent of Bangladesh's total exports, amounting to $38.452 billion for the period.

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)