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Bangladesh sets target to earn $35.14 bn from RMG sector in FY22

For the Fiscal Year 2021-22, the government is going to set a target to earn $35.14 billion exporting apparel goods.

The Export Promotion Bureau, the promoter of the country’s exports, has made the proposal to the Ministry of Commerce.

BD Garments workers
Figure: In the fiscal year 2020-21, Bangladesh earned $31.45 billion exporting apparel goods.

Commerce Minister Tipu Munshi will make the announcement on Tuesday after having a meeting with the stakeholders.

With an 8.54 percent growth target, the EPB stated Bangladesh would be able to earn $35.14 billion in the fiscal year 2021-22.

Of the total exports target, $19.51 billion would come from knitwear products and $15.62 billion woven products.

The growth target for the knitwear products set at 17.33% and 8.51% for woven products. In the fiscal year 2020-21, Bangladesh earned $31.45 billion exporting apparel goods.

Of the total earnings, Knitwear products earned $16.96 billion, up by 21.94 percent, which was $13.90 billion in the same period last year.

While woven products fetched $14.50 billion, which is 3.24 percent higher compared to $14.04 billion in the previous fiscal year.

Meanwhile, the government is also going to set a target to earn $1.37 million with 20.91% growth from the home textile sector.

On the other hand, the overall export target for FY22 would be set at $42.50 billion from goods.

If anyone has any feedback or input regarding the published news, please contact: info@textiletoday.com.bd

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