Apparel exports from Bangladesh increases

Export

Jehangir Hussain

Apparel exports from Bangladesh increased by $12.08 billion in last five years.

According to Bangladesh Garment Manufacturers and Exporters Association (BGMEA) apparel export from Bangladesh at $ 32.92 billion in 2018,  $ 33.07 billion in 2019.

Hit by covid, the exports fell to $ 27.48 billion in 2020.

But in 2021, the exports increased to $ 35.81 billion.

In 2022, the exports exceeded $45 billion, showing a huge recovery.

It shows that Bangladesh’s apparel exports  increased by 27.64 per cent in 2022 compared to in 2021.

BGMEA President Faruque Hassan said that Bangladesh was set to create a new record by exporting  $54.69 billion worth of apparels in 2023.

In 2022, export earnings from the knitwear sector stood at $24.71 billion, an increase by 26.11 per cent the earnings from the woven sector stood at $21 billion, an increase by 29.48 per cent year-on-year.

In December 2022, apparel exports from Bangladesh stood at $4.67 billion, the highest ever for a single month, a growth of 15.35 per cent.

Bangladesh’s total apparel exports grew by 83.57 per cent in 2022, compared to 80.98 per cent in 2021.

The export earnings from fabrics made in Bangladesh and specialised apparels  increased to $1.5 billion in 2022, compared to $1.3 billion in 2021 and $879.89 million in 2018.

The export earnings of headgear, cotton products, specialised fabrics, silk, wool and woolen products also increased.

The aggregate, share of apparels, fabrics in the country's total exports stood at 88.12 per cent in 2022, up from 87.30 per cent in 2018.   

He said the export earning of  the leather sector increased by 24.45per cent in 2022 compared to in 2021.

“Export earnings from the leather sector increased to $ 1.31 billion up from  $1.05 billion in 2021 and $ 997.54 million in 2018. Export earnings from jute and jute goods stood at $1.2 billion, agro products --$1.1 billion, engineering products --$612 million, frozen and live fish --$440 million, carpet--$31.02 million and petroleum products -- $30.16 million.” 

Bangladesh Knitwear Manufacturers and Exporters Association First Vice President Mohammad Hatem  said, "We think the demand for apparels of Bangladesh in the US buyers will continue to grow by over 25 per cent in 2023.”

Bangladesh Policy Research Institute Director and European trade researcher Dr Mohammad Abdur Razzaque said, as Bangladesh exports essential apparels at reasonable prices, their demand increased slightly in the European market.

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