Bangladesh’s readymade garment (RMG) export for the July- April period of FY 2021-22 earned $35.36 billion, according to recently released Export Promotion Bureau (EPB) data. During the first ten months of FY 2021-22, RMG export recorded 35.98% growth compared to the same period of the previous year.
In the first ten months of FY 2021-22, RMG’s two major segments knitwear and woven sector earned $19.24 billion and $16.11 billion respectively. Registering a 37.49% and 34.23% year-over-year growth respectively.
In April alone, the country’s RMG export grew by 56.31% and reached $3.93 billion, which was $2.52 billion in April 2021.
Faruque Hassan, President, BGMEA said, “Though export statistics still show a rising trend, there are challenges as we all know. Moreover, the prolonged Russia-Ukraine conflict is causing fuel and food price hikes, on the other hand, the risk of the economic recessions is increasing in the west.”
In April alone, Bangladesh’s RMG export grew by 56.31% & reached $3.93 billion.
“It is feared that soaring inflation worldwide may affect the demand for consumer goods including fashion items in the international market. These are certainly concerning for us. So, let us be more vigilant about global developments while keep striving on improving efficiency and competitiveness,” Faruque Hassan added.
Among other exports, home textile exports earned $1.33 billion, growing by 39.13% year-over-year. Terry towel $39.52 million, special woven fabric $27.40 million, knitted fabrics $195.62 million and specialized textiles earned $277.15 million in July- April period of FY 2021-22.