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Apparel exports grew 9.37 percent in first 10 months

Apparel exports grew 9.37 percent year-on-year to $25.30 billion in the first 10 months of the Fiscal Year (FY) 2017-2018. Knitwear exports rose 11.43 percent to $12.54 billion and woven garments exports were up 7.42 percent to $12.76 billion.

According to the data from the Export Promotion Bureau (EPB), overall, exports increased 6.41 percent year-on-year to $30.40 billion in the July-April period. The earnings slightly missed the periodic target of $30.49 billion.

Exports rose 7.11 percent year-on-year to $2.95 billion in April riding on the higher shipment of garment items. Although the receipt is 0.51 percent higher than the monthly target of $2.94 billion, it was the lowest in six months.

Apparel exports grew 9.37 percent in first 10 months
Figure: Export Earnings (in billions of dollar), Source: Export Promotion Bureau (EPB)

The president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Siddiqur Rahman stated, “We will be able to achieve more than 10 percent garment export growth at the end of the fiscal year as the trend in the international market shows very bright prospects.”

“At the end of the current fiscal year, we will be able to surpass the garment export of $30 billion for the first time,” he added.

According to the report of EPB for FY 2017-18 July-April, Cotton, cotton products, and yarn exports went up by 19.01 percent to $108.22 million, jute and jute goods increased 7.66 percent to $889.74 million, home textile exports rose 13.07 percent to $751.67 million, leather and leather goods sector down 10.02 percent to $916.74 million.

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