Bangladesh's garment exports rise 34.87% in July-May 2021-22

01 Jul '22

2 min read

Pic: 123rf.com

Readymade garment (RMG) exports from Bangladesh increased by 34.87 per cent to $38.521 billion in the first 11 months of fiscal 2021-22 compared to exports of $28.561 billion in the same period of the previous fiscal, according to the provisional data released by the Export Promotion Bureau. Knitwear exports gained more than woven RMG exports.

Knitwear exports increased by 36.61 per cent to $20.985 billion in July-May 2021-22, as against exports of $15.362 billion during the comparable period of the previous fiscal, as per the data.

Exports of woven apparel increased at a slower rate of 32.85 per cent to $17.535 billion during the period under review, compared to exports of $13.199 billion during the comparable period of 2020-21.

Home textile exports (Chapter 63, excluding 630510) also rose by 41.3 per cent to $1467.19 million during the eleven-month period under review, compared to exports of $1038.36 million during July-May 2020-21.

Thus, woven and knitted apparel, clothing accessories and home textiles’ exports together accounted for 84.76 per cent of $47.174 billion worth of total exports made by Bangladesh during July-May 2021-22.

In the fiscal ending June 30, 2021, readymade garment exports from Bangladesh increased by 12.55 per cent to $31.456 billion compared to exports of $27.949 billion in the previous fiscal. However, this value was lower than $34.133 billion exports made during July-June 2018-19.

For financial year 2021-22, Bangladesh has already surpassed the export target of $35.144 billion.

Fibre2Fashion News Desk (KUL)

More Apparel/Garments News - Bangladesh...