Bangladesh's exports rise 27% MoM in Nov; apparel exports up 28% MoM

05 Dec '23

2 min read

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Bangladesh's exports rose by 27 per cent in November to $4.78 billion compared to October amid higher demand for clothing in the Western markets due to onset of the festive season.
The figure was a drop of 6.05 per cent year on year (YoY).
Apparel exports were worth $4.05 billion in November, 28 per cent higher than October's $3.16 billion.

Bangladesh’s exports increased by 27 per cent in November this year to $4.78 billion compared to October amid higher demand for clothing in the Western markets due to onset of the festive season. The figure was a drop of 6.05 per cent year on year (YoY).

Apparel exports were worth $4.05 billion in November, 28 per cent higher than October's $3.16 billion, according to Export Promotion Bureau (EPB) data released recently.

Central bank figures show a 2.4 per cent fall in remittance inflow in November than the previous month.

The reasons for lower export earnings this year in the garment sector compared to the same period last year are slowdown in global apparel demand, a fall in unit price and a disruption in production due to workers unrest in November, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Faruque Hassan was quoted as saying by a domestic newspaper.

The trend of higher exports is expected to continue in the coming months as the peak sales season in Europe and America will run till January end.

The overall export earnings in October this year were $3.76 billion—a 26-month low.

Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) executive president Mohammad Hatem is hopeful of a positive trend in businesses by next year if the political situation does not worsen.

Fibre2Fashion News Desk (DS)

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