In 2023, Bangladesh’s export earnings from the readymade garment (RMG) sector reached US $ 47.39 billion, marking a 3.67 per cent increase compared to 2022, as reported by the Export Promotion Bureau (EPB).
The bulk of this amount, totalling US $ 46.99 billion, stemmed from knitwear and woven garment exports, while home textiles contributed US $ 1.09 billion.
Mohiuddin Rubel, the director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), attributed the rise in RMG exports primarily to the 7.47 per cent growth in knitwear exports, compensating for the 0.81 per cent decline in woven garment exports in 2023.
Rubel noted that the year exhibited a positive trend in export performance, with modest growth in January and February.
Although there were consecutive dips in March and April, a restoration of positive growth occurred during the May-September period.
However, the export performance in the final quarter of the year fell below the 2022 level.
