Bangladesh’s garment industry export revenue exceeds US$42.6 billion in FY 2021-2022

International Business News  –  According to Bangladesh’s “Financial Express” report on July 3, Bangladesh’s commodity export revenue maintained a strong growth momentum in the just-concluded 2021-2022 fiscal year, with a year-on-year increase of more than 34% to US$52.08 billion. Among them, clothing exports performed particularly well.

According to the Bangladesh Export Promotion Bureau (EPB), Bangladesh’s export revenue in the 2020-2021 fiscal year was only US$38.75 billion, and the 2021-2022 fiscal year’s export revenue growth exceeded the set target by 19.73%.

Since September last year (except May this year), Bangladesh’s monthly export revenue has exceeded the US$4 billion mark, and the monthly export revenue in June alone has increased by 37.29% to US$4.9 billion.

Among the total export income of US$52.08 billion, the export income of the garment industry was US$42.62 billion, an increase of 35.47% over the previous fiscal year.

Specifically, in the apparel industry, RMG’s knitwear earned US$23.21 billion from the export business, an increase of 36.88%. In the past 8 months, the export revenue of woven garments has reached 19.39 billion US dollars, an increase of 33.83%. In addition, home textile exports rose more than 43% to $1.62 billion in the first 11 months of the fiscal year.