Bangladesh’s readymade garment (RMG) export fetches $3.37 billion in July of the FY2022-23. And witnessed a 16.61% growth in the first month of the current fiscal year.
The Export Promotion Bureau (EPB) data for the first month of the FY2022-23 showed that garment items export contributed 84% to the country’s national export.
Most importantly, the sub-sector of RMG export – woven products has seen comparatively higher growth of 23.11% and earned $1.51 billion. while knitwear items export grew by 11.80% and earned $1.85 billion.
“In this difficult time of global economy where our economy is confronted with imported inflation, EURO is falling against US dollars, and the cost of inputs is on the rise, this growth is showing the resilience of our industry. Yet the outlook remains wary of the economic slowdown in advanced economies,” said Mohiuddin Rubel, Director, BGMEA.
Textile export earnings
Home textile export earning witnessed a 3.89% growth in the first month of the current fiscal year. The promising sector earned $95.95 million. While terry towel export earned $4.23 million. Which witnessed a 13.14% negative growth.
Specialized textiles export earnings have witnessed a promising growth of 39.38% in the first month of the FY2022-23 and earned $16.53 million. Special woven fabric export earnings grew by a stunning 43.66%. The sector exported $2.04 million in July. While the knitted fabrics earned $8.48 million. And grew by 71.66%.
Jute and jute goods earned $63.91 million in July and witnessed 5.17% growth in the first month of the current fiscal year.