Bangladesh’s garment exports rise 35.47% in fiscal 2021-22

Grey to blue suit jackets on wooden hangers

Readymade garment (RMG) exports from Bangladesh increased by 35.47 per cent to $42.613 billion in the last fiscal 2021-22 (July-June) compared to exports of $31.456 billion in the previous fiscal, according to the provisional data released by the Export Promotion Bureau. The export was 21.25 per cent more than the target of $35.144 billion for last fiscal.

Knitwear exports gained more than woven RMG exports. Knitwear exports increased by 36.88 per cent to $23.214 billion in 2021-22, as against exports of $16.960 billion during the previous fiscal, as per the data.

Exports of woven apparel increased at a slower rate of 33.82 per cent to $19.398 billion during the period under review, compared to exports of $14.496 billion during 2020-21.

Home textile exports (Chapter 63, excluding 630510) also rose by 43.28 per cent to $1621.93 million during the period under review, compared to exports of $1132.03 million during 2020-21.

Woven and knitted apparel, clothing accessories and home textiles’ exports together accounted for 84.93 per cent of $52.082 billion worth of total exports made by Bangladesh during 2021-22.

Bangladesh has achieved an all-time high in terms of value of exports in 2021-22. The total exports also breached the target of $43.500 billion with outperformance of 19.73 per cent in the period under review.

In the fiscal ended 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 fiscal 2019-20.

This article is republished from Fibre2Fashion under a Creative Commons license. Read the original article.

This image has an empty alt attribute; its file name is block-for-articles-1024x222.jpg