Bangladesh apparel export earnings achieved a new milestone in July to February of FY2021-22.
According to data from the Export Promotion Bureau (EPB), apparel exports earned $27.49 billion between July to February of FY2021-22. Growing by 30.73% in the first 8 months of the current fiscal. Which was $21.03 billion in the same period last FY.
Among the readymade garment (RMG) export knitwear sector export earnings fetched $15.06 billion, growing by 32.87% year-on-year.
While woven products export earned $12.42 billion, growing by 28.23% year-on-year in the July-February period.
Faruque Hassan, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said, “We are hopeful that the buoyance in garment exports will continue to grow as we have already booked an increased volume of work orders from international retailers and brands,” said.
“From BGMEA, we are taking our campaign to push apparel diplomacy forward. And in the last few months, the BGMEA team visited North America and Europe as part of apparel diplomacy,” Faruque Hassan added.
BGMEA President said, “Last week me and my colleagues from BGMEA Board visited Brussels and Geneva as a continuation of this initiative. In this visit, we met with the Director-General of WTO and the Director-General of ILO in their respective offices in Geneva.”
“We are also trying to increase the prices from our buyers. No buyers asked anything regarding the European markets as the business is continuing as usual,” Hassan said.
“Rather, we have asked the EU for an extension on the tariff benefits for Bangladesh even after the country’s LDC graduation. We got a favorable reply from the EU. Our Asian markets are also showing great promise for garment items,” he added.
Apart from RMG exports other textile and apparel categories also achieved significant mileage in terms of export growth.
In July-February of FY2021-22, home textile exports earned $0.99 billion. Witnessing 35.98% growth.
While terry towel exports earned $31.28 million. Witnessing a 19.39% growth.
Special woven fabric exports earned $21.80 million. Witnessing a mammoth 55.49% growth year-on-year.
Knitted fabrics exports earned $169.78 million. Witnessing a staggering 299.67% growth year-on-year.
Also, manmade filaments & staple fibers exports earned $155.23 million. Witnessing 99.76% growth in the first 8 months of the current fiscal.
