Bangladesh's garment exports up 12.17% to $35 bn in July-Mar 2023

05 Apr '23

2 min read

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Insights

Bangladesh's RMG exports increased by 12.17 per cent to $35.252 billion in the first nine months of fiscal 2022-23.
Woven RMG exports grew faster than knitwear.
Woven and knitted apparel, clothing accessories, and home textile exports together accounted for 86.55 per cent of Bangladesh's total exports of $41.721 billion during July-March FY23.

Readymade garment (RMG) (Chapter 61 & 62) exports from Bangladesh increased by 12.17 per cent to $35.252 billion in the first nine months of fiscal 2022-23 (July-June FY23) compared to exports of $31.428 billion in July-March 2022, as per provisional data released by the Export Promotion Bureau (EPB). Woven RMG exports grew at a faster pace than knitwear.

RMG exports from Bangladesh were 3.37 per cent higher than the target of $34.102 billion for July-March 2023, as per EPB data. Exports of knitwear (Chapter 61) increased by 11.78 per cent to $19.137 billion in July-March 2023, as against exports of $17.119 billion during the same months of the previous fiscal.

Exports of woven apparel (Chapter 62) increased by 12.63 per cent to $16.114 billion during the period under review, compared to exports of $14.308 billion during July-March 2022, as per the data.

Home textile exports (Chapter 63, excluding 630510) decreased by 25.73 per cent to $659.94 million during the period under review, compared to exports of $1,157.86 million during July-March 2022.

At the same time, woven and knitted apparel, clothing accessories and home textile exports together accounted for 86.55 per cent of Bangladesh’s total exports of $41.721 billion during July- March FY23.

In 2021-22, Bangladesh achieved an all-time high in the value of its RMG exports, reaching $42.613 billion, which represents an increase of 35.47 per cent compared to the exports of $31.456 billion in fiscal 2020-21. Despite the global slowdown, Bangladesh has succeeded in achieving positive growth in garment exports in the recent months.

Fibre2Fashion News Desk (KUL)

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