Garments exports from Bangladesh earned $46.99 billion in fiscal 2022-23, registering a moderate y-o-y growth of 10.27%, which was $42.61 billion in the last fiscal year, according to the Export Promotion Bureau (EPB).
Apparel exports helped in taking the country’s overall exports in fiscal 2022-23 to another record-high of $55.56 billion.
Garments accounted for 84.58 percent of all export receipts that year while it was 81.82 percent in fiscal 2021-22, EPB data shows.
Another unprecedented performance came in the form of the highest single-month apparel export earnings of $4.67 billion in December 2022.
Among apparel products, knitwear registered a growth of 10.87% to $25.73 billion, while woven garments saw a growth of 9.56% to $21.25 billion, the EPB data also stated.
If related products such as home textiles and specialized fabrics, including silk and wool, headgear and textile waste are included, the year-end export turnover would be $49.24 billion.
This accounts for 88.35 percent of the overall export earnings of fiscal 2022-23.
“This is undoubtedly a significant accomplishment as we are passing through a turbulent time when global trade is shrinking,” stated Faruque Hassan — President of the Bangladesh Garment Manufacturers and Exporters Association.