Bangladesh: July-April FY2022-23 Apparel Exports Report
15 May 2023, Mumbai
The latest export performance data and analysis for Bangladesh during the period of July to April in FY2022-23.
According to the data compiled by the Export Promotion Bureau (EPB), Bangladesh's ready-made garment (RMG) exports reached US$38.57 billion during the mentioned ten-month period, exhibiting a growth of 9.09% compared to the same period in the previous year.
The analysis of product categories reveals that knitwear exports contributed US$20.96 billion, while woven garments accounted for US$17.60 billion. Both categories showed a year-over-year (Y-o-Y) growth of 8.97% and 9.24% respectively.
Although the overall statistics for the ten-month period indicate an upward trend, a closer look at the monthly data reveals a downward trend in the recent couple of months. Specifically, during March and April 2023, our RMG exports experienced a decline of 1.04% and 15.48% respectively.
It is worth noting that this decline comes after six consecutive months of positive growth. However, it is important to mention that the growth measured in dollar values does not necessarily reflect real growth in exports.
The increased prices of raw materials, freight costs, and other production expenses have inflated the export value, making the growth in physical quantity less significant.
CREDITS: BGMEA Press Release.