Readymade garment (RMG) exports from Bangladesh achieved the target of the full fiscal year in just 10 months. RMG exports were recorded at $35.362 billion in the first ten months of fiscal 2021-22, compared to the target of $35.144 billion set for the current fiscal, which will end on June 30, 2022.
According to the provisional data released by the Export Promotion Bureau, Bangladesh’s RMG exports increased by 35.98 % in the first ten months compared to exports of $26.004 billion in the same period of the previous fiscal year. Knitwear export performance remained better than woven RMG exports. Knitwear exports increased by 37.49 % to $19.242 billion in July-April 2021-22, as against exports of $13.995 billion during the comparable period of the previous fiscal, as per the data.
Exports of woven apparel increased at a slower rate of 34.23 % to $16.119 billion during the period under review, compared to exports of $12.008 billion during the comparable period of 2020-21. Woven and knitted apparel and clothing accessories’ exports together accounted for 81.58 % of $43.344 billion worth of total exports made by Bangladesh during July-April 2021-22. In the fiscal ending June 30, 2021, readymade garment exports from Bangladesh increased by 12.55 % to $31.456 billion compared to exports of $27.949 billion in the previous fiscal. However, this value was lower than $34.133 billion in exports made during July-June 2018-19, which the country has already surpassed this fiscal.
