Readymade garment (RMG) exports from Bangladesh increased by 28.02 percent to $19.900 bn in the first six months of fiscal 2021-22 compared to exports of $15.545 bn 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 30.91 percent to $11.161 bn in July-December 2021-22, as against exports of $8.526 bn during the comparable period of the previous fiscal, as per the data. Exports of woven apparel increased at a slower rate of 24.50 per cent to $8.739 bn during the period under review, compared to exports of $7.019 bn during the comparable period of 2020-21. Woven and knitted apparel and clothing accessories’ exports together accounted for 80.57 percent of $24.698 bn worth of total exports made by Bangladesh during July-December 2021-22.
Meanwhile, home textile exports (Chapter 63, excluding 630510) also rose by 30.77 percent to $715.95 mn during the six-month period under review, compared to exports of $547.48 mn during July-December 2020-21.
In the fiscal ending June 30, 2021, readymade garment exports from Bangladesh increased by 12.55 percent to $31.456 bn compared to exports of $27.949 bn in the previous fiscal. However, this value was lower than $34.133 bn exports made during July-June 2018-19.
If the present growth trend continues, Bangladesh, this fiscal, should surpass the value of RMG exports achieved in 2018-19, and may also surpass the garment export target of $35.144 bn set for the ongoing fiscal year.
