In July 2023, Bangladesh’s garment industry witnessed a promising development as its exports demonstrated a slight improvement, reaching a total of US $ 3.95 billion even as this achievement surpassed the set target, reflecting a growth rate of approximately 4.65 per cent.
This is as per reports, which added knitwear exports contributed US $ 2.27 billion, while woven garments reached US $ 1.69 billion even if both sectors experienced some growth losses, accounting for 11.54 per cent and 17.43 per cent, respectively, of the total apparel exports.
The total revenue from apparel exports in July 2023 saw an impressive increase of nearly US $ 400 million compared to the previous month, showcasing the sector’s resilience and potential for future growth.
In July of the current year, the export of RMG items experienced healthy growth of 17.43 per cent, amounting to US $ 3,953.74 million even as of this, the single-month export of knitwear stood out, reaching US $ 2,266.48 million, and recording an impressive growth of 22.24 per cent while the export of woven garments amounted to US $ 1,687.26 million, showing a growth of 11.54 per cent.
