Bangladesh Garment Exports Up 10.6% In 11 Months To May’23
For the eleven month period, beginning from July 2022 to May 2023, Bangladeshi garment exports rose to US$ 42.63 billion, up 10.67% year on year, as against the earlier eleven month corresponding period.
According to BGMEA, export of knitwear in the period stood at US$ 23.27 billion, a growth of 10.92%, while woven garments fetched US$ 19.35 billion, up 10.36%, both growing year-over-year.
For the month of May 2023, apparel exports zoomed 28.33% year on year to US$ 4.05 billion as against US$ 3.15 billion in May 2022.
“The growth in May is mainly came due to Eid-ul-Fitre closure in April when the factories were closed for around 10 days,” BGMEA said
“Yet this is a welcome growth, despite the fact that factories are mostly running short of orders, as buyers are reportedly facing slowdown in retail sales and supply chain challenges,” the garment association added.
“While our major markets are in economic turbulence, non-traditional markets are performing comparatively well and we should all opt for exploring alternative options as challenges tend to linger,” BGMEA concluded by saying.
