I am writing today to update you on the country-wise performance of our RMG export for January-February of 2024 with a brief analysis. Please find the statistics in the attachment for your kind information.
Based on the official data, the total RMG export value from Bangladesh to all countries for January-February 2024 reached US$ 9.47 billion, which is a 13.15% increase compared to the same period in 2023. However, in terms of fiscal year, our RMG export during July-February of FY2023-24 posted an average growth of 4.77%, showing that the first 6 months of the fiscal (i.e. July-Dec 2023) was quite challenging, and export has started rebounding since January this year. Previously I shared with you few data and analyses on the latest holiday sales in our major markets, especially in the U.S and U.K., indicating a much awaited come back of the retail business in 2024. So I would focus on the January-February 2024 performance in this analysis.
