June 17, 2024

Bangladesh Apparel Exports Script History In January 2024

Bangladesh apparel exports scripted history by recording the highest ever exports in a single month in January 2024.

Garment overseas shipments totaled US $ 4.97 billion, pretty close to $5 billion mark and reported an increase of 12.45 percent over January 2023.

Of overall exports of clothing in January, knitwear exports grew by 17.32 percent year on year, while woven exports rebounded with 7.16 percent growth.

However, the President of BGMEA, Faruque Hassan expressed caution and requested the industry to not be carried away by the response from overseas markets in January.

“Particularly we need to be careful while planning new capacity and expansion, because we cannot add more vulnerability to our existing overcapacity situation,” Hassan said in a statement.

“So, quality investment, especially in backward linkage will be crucial for us for next five years,” he observed.

Hassan further added that these figures are also a reflection how the industry is diversifying its products and market base, and moving up the ladder of value addition.

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