In the first month of the financial year 2023-24, Bangladesh’s exports surged by 15.26 per cent year-on-year, reaching US $ 4.59 billion compared to US $ 3.98 billion in the same month of FY ’23. This remarkable growth can be attributed to the outstanding performance of the readymade garment sector.
The export earnings in July brought positive news for Bangladesh, showcasing the country’s strength in the global market. According to data released by the Export Promotion Bureau, the country’s export earnings for the month were 2.50 per cent higher than the government’s target of US $ 4.48 billion. The government has set an ambitious goal of US $ 62 billion in export earnings from goods for FY ’24. Notably, the readymade garment sector played a significant role in this success, with export earnings growing by 17.43 per cent in July, reaching US $ 3.95 billion compared to US $ 3.36 billion in the same month of 2022.
“The robust growth in export earnings during the first month of FY ’24 is excellent news for Bangladesh,” stated Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association. He further highlighted that the recent statistics from the World Trade Organisation revealed Bangladesh’s increasing share in the global apparel market, rising from 6.40 per cent in 2021 to 7.90 per cent in 2022.
Faruque Hassan emphasised that while the quantity of apparel exports may have decreased, there has been an upward trend in the shipment of high-value added products. This positive shift is well-reflected in the export data, contributing to the country’s strong performance in the global market.
Bharat Tex Special Report 2026 
