Bangladesh's RMG exports up 5.53% to $37.20 bn in July-March

While knitwear exports exceeded woven garments, the overall RMG exports did not meet the $39.005 billion target set for July-March 2024, falling short by 4.62 per cent.

In the first nine months of the current fiscal, exports of knitwear (Chapter 61) rose by 9.79 per cent to $21.011 billion, compared to $19.137 billion during the corresponding period of the previous fiscal 2022-23. Woven apparel exports (Chapter 62) improved by 0.47 per cent, totalling $16.191 billion, against $16.114 billion in July-March 2023, as per EPB data.

Home textile exports (Chapter 63, excluding 630510) experienced a significant decline, dropping by 25.98 per cent to $636.53 million, compared to $859.94 million in the same period last fiscal. Collectively, woven and knitted apparel, clothing accessories, and home textile exports constituted 86.87 per cent of Bangladesh's total exports, amounting to $43.554 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)