July Bangla Garment Exports Rise Sharply By 17.43%

During the first month of fiscal 2024, Bangladeshi garment exports rose sharply by 17.43 per cent to US $3.95 billion, up from $3.37 billion dollars in July 2022.

Of this, woven garment shipments grew 11.54 percent in July 2023 and totaled $1.68 billion from $1.51 billion in July 2022, while knitwear export grew year on year to 22.24 percent to reach $2.27 billion.

“The growth is certainly impressive, though the global economic scenario is portraying a contrasting outlook,” Bangladesh Garment Manufacturers & Exporters Association (BGMEA) President Faruque Hassan said.

“Therefore, it’s quite challenging to forecast the market and I personally think that we need to follow a cautiously optimistic approach for the rest of 2023, as apparel and overall global trade may see some dip compared to last year,” Hassan added.