Bangladesh’s apparel export has reached to around $2.78 billion with nearly 14% year-on-year growth in the first 27 days of July.
The sector enjoyed a whopping 1,128% growth year-on-year in a single day during the period, but the shipment also witnessed zero export on 10 July, according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
The BGMEA came up with the calculation based on the National Board of Revenue data as the Export Promotion Bureau (EPB) is yet to make the official announcement.
Earlier, BGMEA President Faruque Hassan predicted that the sector will perform a double-digit growth in July-August compared to the same period last year.
The government has set a target to earn $46 billion through RMG exports in the current fiscal year while the sector is bracing for around 30% shortage of work orders in the coming months.
Bangladesh’s major export destinations – the United States and European countries – are now facing a 40-year high inflation.
In FY22, readymade garment shipments amounted to $42.2 billion with about 35% year-on-year growth, according to data published by the EPB.