While knitwear exports exceeded woven garments, the overall RMG exports did not meet the $42.974 billion target set for July-April 2024, falling short by 5.77 per cent.
In the first ten months of the current fiscal, exports of knitwear (Chapter 61) rose by 9.11 per cent to $22.878 billion, compared to $29.967 billion during the corresponding period of the previous fiscal 2022-23. Woven apparel exports (Chapter 62) improved by 0.03 per cent, totalling $17.615 billion, against $17.609 billion in July 2023-April 2024, as per EPB data.
Home textile exports (Chapter 63, excluding 630510) experienced a significant decline, dropping by 25.32 per cent to $702.56 million, compared to $940.80 million in the same period last fiscal. Collectively, woven and knitted apparel, clothing accessories, and home textile exports constituted 86.78 per cent of Bangladesh's total exports, amounting to $47.471 billion for the period.
The exports of cotton and cotton products including yarn, waste, and fabrics (Chapter 52) jumped 38.35 per cent to $449.03 million in the period under review. The trade was noted at $324.55 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)
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