Readymade garment (RMG) exports from Bangladesh increased by 30.73 per cent to $27.497 billion in the first eight months of fiscal 2021-22 compared to exports of $21.033 billion in the same period of the previous fiscal, according to the provisional data released by the Export Promotion Bureau. Knitwear exports gained more than woven RMG exports.
Knitwear exports increased by 32.87 per cent to $15.069 billion in July-February 2021-22, as against exports of $11.341 billion during the comparable period of the previous fiscal, as per the data.
Exports of woven apparel increased at a slower rate of 28.23 per cent to $12.427 billion during the period under review, compared to exports of $9.691 billion during the comparable period of 2020-21.
Woven and knitted apparel and clothing accessories’ exports together accounted for 81.24 per cent of $33.843 billion worth of total exports made by Bangladesh during July-February 2021-22.
Meanwhile, home textile exports (Chapter 63, excluding 630510) also rose by 35.98 per cent to $993.764 million during the eight-month period under review, compared to exports of $730.820 million during July-February 2020-21.
In the fiscal ending June 30, 2021, readymade garment exports from Bangladesh increased by 12.55 per cent to $31.456 billion compared to exports of $27.949 billion in the previous fiscal. However, this value was lower than $34.133 billion exports made during July-June 2018-19.
If the present growth trend continues, Bangladesh, this fiscal, should surpass the value of RMG exports achieved in 2018-19, and may also surpass the garment export target of $35.144 billion set for the ongoing fiscal year.
