The export data for the period of July- January in the FY2021-22 has been released by the Export Promotion Bureau (EPB), so I am writing to update you on the most recent export performance of the RMG industry.
During the mentioned period, apparel export reached USD 23.99 billion, a 30.30% increase from the same period of the previous fiscal year. Knitwear items export fetched 13.27 billion dollars, while woven items earned 10.71 billion dollars, registering 32.89% and 27.23% growth respectively.
For the single month of January 2021, the RMG export grew by 42.71% and reached 4.08 billion dollars which is the highest ever single month export of this sector. In fact for the first time in history we have crossed the milestone of USD 4 billion RMG export in single month in December 2021 and export in January crossed December. Both knitwear and woven sector maintained over 40% year-over-year growth. So the overall RMG export performance had shown tremendous resilience in the past few months. Despite all the challenges caused by the pandemic, such turn around reflects the hard work and resilience of our entrepreneurs and workers, and the confidence of the global brands on us. I salute my fellow colleagues from the industry for making it possible despite the hardships in managing the supply chain and meeting the costs.
However, as I mentioned in my previous emails that the recent leap in export may be a temporary phenomenon, so we have to be more cautious in planning our capacity and expansion. I am not trying to be pessimistic, but cautiously optimistic since all the mega projects in progress like Padma Bridge, Karnaphuli Tunnel, SEZs, MRT, Elevated Expressway, the third Terminal at Dhaka Airport, the Patenga Terminal and Bay Terminal in Chattagram Port, the Rooppur and other power plants under construction, expressways and railways across the country will add significant capacity to our economy in near future. What we need to do at this moment is to make qualitative shift in our business by means of diversifying, innovating, design, technology up-gradation, and capacity building. In the interim time we need to put extra effort in developing more skilled workers and professionals, which will benefit the industry at large. Also we have to be more cautious in price calculation and negotiations. At the same time, we must continue our efforts to maintain and improve the standards that we have achieved so far in the area of safety and sustainability.
I am sending the RMG export statistics of July-January, FY 2021-22 in the attachment for your kind information. The country-wise export statistics will be shared soon.
