We have compiled the export data for July- September of FY2022-23. Today, I am writing to share with you a few analyses of the RMG export performance for the mentioned period. Please find the datasheet in the attachment for your information.
As per the latest statistics, the RMG export of Bangladesh reached US$10.27 billion during the mentioned period, up from US$9.05 billion in July- September of FY 2021-22 indicating 16.61% year-over-year growth.
A category-wise disaggregated analysis shows that the export of knitwear was US$ 5.64 billion with 9.40% growth. At the same time, the export earnings from woven garments reached US$4.62 billion with 18.73% growth compared to the same period of FY 2021-22.
If we analyze the data for the single month of September 2022, the country’s RMG export declined by 7.52% that means in September 2022 the RMG export dropped to US$ 3.16 billion from US$ 3.41 billion in September 2021.
The decline in export growth is recorded first in past 14 months.
Given the current global economic situation, export growth may falter further in the coming months. Retail sales in our major export markets have already been affected by high inflation and other economic turmoil.
At this moment we need to be more watchful in terms of demand projection as well as planning our new investments. We have to be optimistic while being cautious.
I will share the country-wise export performance when available.
