Bangladesh apparel exports decline 2.99% in H1 FY21

22 Jan '21

2 min read

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Readymade garment exports from Bangladesh declined by 2.99 per cent in the first half fiscal 2020-21 compared on year-on-year basis, according to data from the Export Promotion Bureau. Bangladesh fiscal year runs from July 1 to June 30.

Category-wise, knitwear exports increased by 3.90 per cent to $8.526 billion in July-December of fiscal 2020-21, as against exports of $8.205 billion during the same period of the previous fiscal, as per the data.

However, exports of woven apparel decreased by 10.22 per cent to $7.019 billion during the period under review, compared to exports of $7.818 billion during the comparable period of 2019-20.

Woven and knitted apparel and clothing accessories’ exports together accounted for 80.82 per cent of $19.233 billion worth of total exports made by Bangladesh during the first half of the current fiscal.

Meanwhile, home textile exports (Chapter 63, excluding 630510) increased 47.93 per cent to $547.48 million during the six-month period under review, compared to exports of $370.1 million during the corresponding period of the previous fiscal.

In the fiscal ending June 30, 2020, readymade garment exports from Bangladesh declined 18.12 per cent to $27.949 billion compared to exports of $34.133 billion in the previous fiscal, mainly on account of COVID-19 pandemic and lockdowns. For the current fiscal, the country has set an export target of $33.785 billion.

Fibre2Fashion News Desk (RKS)

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