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.
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.