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Apparel exports grow 28pc in July-Dec

  • Staff Correspondent
  • 16 January, 2022 12:00 AM
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Apparel exports grow 28pc in July-Dec

Bangladesh’s apparel shipment made a swift comeback during first half of fiscal year 2021-22 with a healthy recovery from a pandemic-induced slowdown.

The apparel makers exported readymade garment items worth $19.9 billion during the July-December period of the current fiscal year.

It was 28.02 percent higher than $15.55 billion apparel exports registered in the first six months of previous fiscal year, the latest Export Promotion Bureau (EPB) data showed.

The highest export growth of nearly 46 percent recorded in the US market, the second largest RMG export destination for Bangladesh.

Exports to the largest apparel market --the EU—witnessed 23.83 percent growth in the first six months.

The figures exhibited a robust external demand for this country's RMG items abroad.

In the period, RMG shipment in the EU climbed to over $12 billion, including $7.6 billion knit garment and $4.4 billion woven garment export.

The total RMG export in EU was nearly $9.7 billion a year earlier.

Exports to the US market, on the other hand, jumped to $4.23 billion, including $2.7 billion woven garment and over $1.5 billion knit garment export.

Total garment exports were $2.9 billion during July-Dec period of FY21.

Knit garment exports saw the highest 57.48 percent growth in the US market, the single largest RMG export market, while woven garment export saw nearly 40 percent growth there.

Knit garment shipment to the EU market witnessed 26.62 percent growth while woven garment shipment there grew by 19.29 percent in the period.

The EU market’s share in the country’s total RMG exports dropped to 60.34 percent in the period from 62.37 percent one year ago.

However, share of the US market rose to 21.26 percent from the previous 18.66 percent.

RMG export to non-traditional market surged 24.26 percent year-on-year to over $3 billion from $2.5 billion.

Knit and woven garment export to another major destination Germany grew by 21.20 percent to $3.3 billion which was $2.8 one year ago.

The export in the UK climbed by 20.66 percent to $2.1 billion from $1.7 billion and in Canada the export surged by 23.78 percent to $602.82 million from $487 million. 

“The country-wise RMG export data for the period of July-December 2021-22 is published by EPB, which shows that export to major markets had a strong come back,” Mohiuddin Rubel, director of BGMEA said.

He said the single largest market for Bangladesh—the US-- posted almost 46 percent growth during this period while the EU and Canada saw 23.83 percent and 23.78 percent growth respectively.

“Almost all the EU member countries posted significant growth, Spain, Poland, U.K., Germany and France had significant growth. Non-traditional markets grew by 24.26 percent during this time,” he said.