Textile & Clothing Exports From Bangladesh Rise 3.67% In 2023
Textile and apparel exports from Bangladesh amounted to US $47.3 billion in 2023, growing by 3.67 percent or $1.68 billion over its previous year.
Of these, exports of home textiles stood at $1.09 billion, while those of knitwear and woven clothing exports reached $46.99 billion.
“The rise in garment exports was driven by a 7.47 percent growth in knitwear exports, while woven garment exports fell 0.81 percent,” Daily Sun stated quoting Mohiuddin Rubel, director of BGMEA.
Rubel also added that 2023 started well with a modest growth in the first two months, but declined in March April, before rising again between May and September.
“However, export growth turned negative in the last quarter or between September and December of last year,” he stated.
He further said that revenue from clothing exports was a record for a calendar year and came in the backdrop of a global economic slowdown and high inflation which reduced consumer spending.
In the month of December 2023, earnings from apparel exports totaled $4.56 billion, which was lower by 2.35 percent, when compared with the same month of 2022.
