According to data released by the Export Promotion Bureau of Bangladesh (EPB), compared with the first nine months of the 2021/22 financial report (July 2021 to March 2022), Bangladesh’s ready-made garments ( RMG) (Chapter 61 and 62) export value (US$31.428 billion), increased by 12.17% to US$35.252 billion in the first nine months of the 2022/23 financial report (July 2022 to March 2023); woven ready-made garments The export growth rate is higher than that of knitted garments.
EPB data shows that the value of Bangladesh’s garment exports in the first nine months of the 2022/23 financial report exceeded the original target value (US$34.102 billion) by 3.37%. During this period, the export value of knitwear (Chapter 61) increased by 11.78%, reaching US$19.137 billion, and the export value during the same period of the previous year (financial year) was US$17.119 billion.
Compared with the export value of US$14.308 billion in the first nine months of the 2021/22 financial report, woven garments (Chapter 62) grew by 12.63% to US$16.114 billion. The export value of home textiles (Chapter 63, excluding 630510) decreased by 25.73% to US$660 million, compared with the same period of the previous year (financial year).
In addition, the export value of woven and knitted garments, garment accessories and home textiles in the first nine months of the 2022/23 financial report accounted for Bangladesh’s total exports (US$41.721 billion) 86.55%.
In the 2021/22 financial year, Bangladesh’s garment exports hit a record high of US$42.613 billion, an increase of 35.47% from US$31.456 billion in the 2020/21 financial year. Even as the global economy slows down, Bangladesh’s apparel exports have recorded positive growth in recent months.
