Readymade garment (RMG) (Chapter 61 & 62) exports from Bangladesh increased by 10.67 percent to $42.630 bn in the first eleven months of fiscal 2022-23 (FY23) compared to exports of $38.521 bn 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 percent higher than the target of $42.308 bn for July-May 2023, as per EPB data. Exports of knitwear (Chapter 61) increased by 10.92 percent to $23.278 bn in July-May 2023, as against exports of $20.985 bn during the same months of the previous fiscal.
Exports of woven apparel (Chapter 62) increased by 10.36 percent to $19.352 bn during the period under review, compared to exports of $17.535 bn during July-May 2022, as per the data.
Home textile exports (Chapter 63, excluding 630510) decreased by 30.14 percent to $1,024.98 mn during the period under review, compared to exports of $1,467.19 mn during July-May 2022.
At the same time, woven and knitted apparel, clothing accessories and home textile exports together accounted for 87.29 percent of Bangladesh’s total exports of $50.527 bn during July- May of FY23.
In 2021-22, Bangladesh achieved an all-time high in the value of its RMG exports, reaching $42.613 bn, which represents an increase of 35.47 percent compared to the exports of $31.456 bn in fiscal 2020-21. Despite the global slowdown, Bangladesh has succeeded in achieving a growth in garment exports in the recent months.
