Value addition in Bangladesh apparel sector increasing

So far renowned for manufacturing basic garments and in volume, Bangladesh is moving up the value chain even as the sector witnessed a record surge in value addition to 71.06 per cent from what was 52.24 per cent in the same period of FY ’22, following increased shipment of high value-added products to the global markets with increased price tags.

Reports claimed this citing central bank (Bangladesh Bank) report titled Quarterly Review on RMG: January-March FY ’23, as per which the net export earnings from apparels started to increase from the second quarter of FY ’23 even if as per the data value addition in the sector witnessed a sharp rise to 67.69 per cent increase in October-December period of FY ’23 from that of 57.80 per cent in the same period of FY ’22 even if apparel exports in the January-March of FY ’23 stood at US $12.25 billion while the net exports were US $ 8.70 billion against the US $ 3.54 billion worth imports of raw materials.

Courtesy: Apparel Resources News