Bangladesh’s garment exports up 9% to $38.5 bn in July-Apr 2023

Fibre2Fashion: Readymade garment (RMG) (Chapter 61 & 62) exports from Bangladesh increased by 9.09 per cent to $38.577 billion in the first ten months of fiscal 2022-23 (FY23) compared to exports of $35.362 billion in July-April 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 1.05 per cent higher than the target of $38.177 billion for July-April 2023, as per EPB data. Exports of knitwear (Chapter 61) increased by 8.97 per cent to $20.967 billion in July-April 2023, as against exports of $19.242 billion during the same months of the previous fiscal.

Exports of woven apparel (Chapter 62) increased by 9.24 per cent to $17.609 billion during the period under review, compared to exports of $16.119 billion during July-April 2022, as per the data.

Home textile exports (Chapter 63, excluding 630510) decreased by 29.34 per cent to $940.8 million during the period under review, compared to exports of $1,331.42 million during July-April 2022.

At the same time, woven and knitted apparel, clothing accessories and home textile exports together accounted for 86.51 per cent of Bangladesh’s total exports of $45.677 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 a growth in garment exports in the recent months.