Bangladesh RMG exports achieve full year target in 10 months

16 May '22

2 min read

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Readymade garment (RMG) exports from Bangladesh achieved the target of full fiscal year in just 10 months. RMG exports were recorded at $35.362 billion in the first ten months of fiscal 2021-22 compared to target of $35.144 billion set for current fiscal which is going to end on June 30, 2022.

Bangladesh’s RMG exports increased by 35.98 per cent in the first ten months compared to exports of $26.004 billion in the same period of the previous fiscal, according to the provisional data released by the Export Promotion Bureau. Knitwear export performance remained better than woven RMG exports.

Knitwear exports increased by 37.49 per cent to $19.242 billion in July-April 2021-22, as against exports of $13.995 billion during the comparable period of the previous fiscal, as per the data.

Exports of woven apparel increased at a slower rate of 34.23 per cent to $16.119 billion during the period under review, compared to exports of $12.008 billion during the comparable period of 2020-21.

Woven and knitted apparel and clothing accessories’ exports together accounted for 81.58 per cent of $43.344 billion worth of total exports made by Bangladesh during July-April 2021-22.

Meanwhile, home textile exports (Chapter 63, excluding 630510) also rose by 39.13 per cent to $1.331 billion during the ten-month period under review, compared to exports of $956.930 million during July-April 2020-21.

In the fiscal ending June 30, 2021, readymade garment exports from Bangladesh increased by 12.55 per cent to $31.456 billion compared to exports of $27.949 billion in the previous fiscal. However, this value was lower than $34.133 billion exports made during July-June 2018-19, which the country has already surpassed this fiscal.

Fibre2Fashion News Desk (KUL)

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