Bangladesh's RMG exports have continued to grow in the first ten months of fiscal year FY23, increasing by 9.09 per cent to $38.577 billion. This marks a significant achievement for the country's RMG sector, which continues to be a key driver of Bangladesh's economy.

According to provisional data released by the Export Promotion Bureau (EPB), woven RMG exports showed a faster pace of growth than knitwear, with an increase of 9.24 per cent to $17.609 billion compared to exports of $16.119 billion in July-April 2022. Knitwear exports, on the other hand, increased by 8.97 per cent to $20.967 billion in the same period, up from $19.242 billion in the previous fiscal year.

Despite a decrease in home textile exports by 29.34 per cent to $940.8 million during the period under review, woven and knitted apparel, clothing accessories, and home textile exports together accounted for 86.51 per cent of Bangladesh's total exports of $45.677 billion during July-March FY23.

It is worth noting that Bangladesh achieved an all-time high in the value of its RMG exports in 2021-22, reaching $42.613 billion, representing a 35.47 per cent increase compared to the previous fiscal year's exports of $31.456 billion. This is a significant accomplishment, especially considering the global economic slowdown due to the COVID-19 pandemic.

The growth in Bangladesh's garment exports is a testament to the resilience and adaptability of the country's RMG sector, which has continued to thrive despite the challenges posed by the pandemic.