June 17, 2024

Between 2018 & 2023 Bangladesh apparel exports surge 43.9%

In the six year period between 2018 and 2023, Bangladesh apparel exports surged from US $32.93 billion in 2018 to $47.39 billion in 2023, posting a significant growth of 43.91 percent in the six years.

“Overseas shipments of Bangladesh garments grew to $33.07 billion in 2019, but due to the start of the pandemic, these exports fell severely to $27.47 billion in 2020,” BGMEA data revealed.

Garment exports rebounded to $35.81 billion in 2021, a massive increase of 30.36 percent year over year, and higher than exports reported in 2019 or before the Covid-19 pandemic began.

Bangladeshi garment exports continued their growth momentum into 2022 and totaled $45.71 billion, a significant growth of 27.64 percent year over year.

According to BGMEA, this growth came in the backdrop of massive price hikes in freight rates and also raw materials like cotton, yarn, fabric and dyes and chemicals.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *