For July 2023 and also the first month of fiscal 2024, Bangladeshi garment exports surged 17.43 percent to US $3.95 billion, up from 3.37 billion dollars in July 2022.
Of this, knitwear shipments grew faster by 22.24 percent year on year and totaled $2.27 billion, while woven garment exports rose slower at 11.54 percent from a year ago month to $1.68 billion.
“The growth is certainly impressive, though the global economic scenario is portraying a contrasting outlook,” Faruque Hassan, President of Bangladesh Garment Manufacturers & Exporters Association (BGMEA) said.
“Though inflation has started to ease off in our major export markets and the economic indicators started stabilizing, yet the import of apparels by USA and EU is showing a major downtrend,” Hasan added.
“Therefore, it’s quite challenging to forecast the market and I think that we need to follow a cautiously optimistic approach for the rest of 2023, as apparel and overall global trade may see some dip compared to last year,” he averred.
Bangladesh garment exports surge 17.43% in July 2023
