Bangladesh apparel exports jump 11.1% in July-May FY21

17 Jun '21

2 min read

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Readymade garment (RMG) exports from Bangladesh increased by 11.1 per cent to $28.561 billion in the first eleven months of fiscal 2020-21 compared to $25.708 billion in the corresponding period of the previous fiscal, according to the provisional data released by the Export Promotion Bureau. Bangladesh fiscal year runs from July 1 to June 30.

Category-wise, knitwear exports increased by 20.55 per cent to $15.362 billion in July-May 2020-21, as against exports of $12.743 billion during the same period of the previous fiscal, as per the data.

Exports of woven apparel too rose by 1.80 per cent to $13.199 billion during the period under review, compared to exports of $12.965 billion during the comparable period of 2019-20.

Woven and knitted apparel and clothing accessories’ exports together accounted for 81.18 per cent of $35.180 billion worth of total exports made by Bangladesh during the first eleven months of the current fiscal.

Meanwhile, home textile exports (Chapter 63, excluding 630510) shot up by 54.76 per cent to $1.038 billion during the eleven-month period under review, compared to exports of $670.97 million during July-May 2019-20.

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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