Readymade garment (RMG) (Chapter 61 & 62) exports from Bangladesh increased by 14.06 per cent to $31.361 billion in the first 8 months of fiscal 2022-23 (July-June FY23) compared to exports of $27.497 billion in July-February 2023, 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 4.36 per cent higher than the target of $30.052 billion for July-February 2023, as per EPB data.

Exports of knitwear (Chapter 61) increased by 13.21 per cent to $17.060 billion in July-February 2023, as against exports of $15.069 billion during the same months of the previous fiscal.

Exports of woven apparel (Chapter 62) increased by 15.08 per cent to $14.301 billion during the period under review, compared to exports of $12.427 billion during July-February 2022, as per the data.

Home textile exports (Chapter 63, excluding 630510) decreased by 22.53 per cent to $769.86 million during the period under review, compared to exports of $993.76 million during July-February 2022.

At the same time, woven and knitted apparel, clothing accessories and home textile exports together accounted for 88.73 per cent of Bangladesh’s total exports of $37.077 billion during July- February 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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