Readymade garment (RMG) (Chapter 61 & 62) exports from Bangladesh increased by 10.67 per cent to $42.630 billion in the first eleven months of fiscal 2022-23 (FY23) compared to exports of $38.521 billion in July-May 2022, as per provisional data released by the Export Promotion Bureau (EPB). Knitwear exports grew at a faster pace than woven garment. 

RMG exports from Bangladesh were 0.98 per cent higher than the target of $42.308 billion for July-May 2023, as per EPB data. Exports of knitwear (Chapter 61) increased by 10.92 per cent to $23.278 billion in July-May 2023, as against exports of $20.985 billion during the same months of the previous fiscal. 

Exports of woven apparel (Chapter 62) increased by 10.36 per cent to $19.352 billion during the period under review, compared to exports of $17.535 billion during July-May 2022, as per the data. 

Home textile exports (Chapter 63, excluding 630510) decreased by 30.14 per cent to $1,024.98 million during the period under review, compared to exports of $1,467.19 million during July-May 2022. 

At the same time, woven and knitted apparel, clothing accessories and home textile exports together accounted for 87.29 per cent of Bangladesh’s total exports of $50.527 billion during July- May of 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 a growth in garment exports in the recent months. 

Fibre2Fashion News Desk (KUL)

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