In the first nine months of the 2022-23 fiscal year (July-June FY2023), Bangladesh’s exports of ready-made garments (RMG) rose by 12.17% to US$35.252 billion, compared to July 2022. Exports through March were worth $31.428 billion, according to provisional data released by the Export Promotion Bureau (EPB). Exports of woven garments grew faster than knitwear.

According to the EPB, Bangladesh’s ready-made garment exports were 3.37 percent higher than the target of $34.102 billion for July-March 2023. Exports of knitwear increased by 11.78% to USD 19.137 billion in July-March 2023, compared to USD 17.119 billion in the same period of the previous fiscal year..

Exports of woven garments increased by 12.63% to $16.114 billion during the period under review, compared to exports of $14.308 billion in the July-March 2022 period, the data showed.

Sinker

The value of exports of home textiles ,during the reporting period decreased by 25.73% to US$ 659.94 million, compared to the US$ 1,157.86 million in July-March 2022.

Meanwhile, exports of woven and knitted garments, apparel accessories and home textiles combined accounted for 86.55 percent of Bangladesh’s total exports of $41.721 billion in the July-March period of FY23.

Needle

Bangladesh’s ready-made garment exports hit a record high of US$42.613 billion in 2021-22, a 35.47% increase from US$31.456 billion in 2020-21. Despite the slowdown in the global economy, Bangladesh’s garment exports have managed to post positive growth in recent months.