The Export Promotion Bureau (EPB) released the export performance data of Bangladesh for July- April of FY2022-23. Today I am writing to share with you the the data and some analysis for the mentioned 10 months period. Please find the datasheet in the attachment for your information.
As per our compilation of the data, our RMG export reached US$ 38.57 billion during July- April of FY2022-23 with a 9.09% growth compared to the same period of the previous year. Product category analysis shows that the export of knitwear fetched US$ 20.96 billion, while the earnings from the woven garments was US$ 17.60 billion, both registering 8.97% and 9.24% year-over-year growth respectively.
While the 10 months statistics is showing a rising trend, if we look at the month by month data we see a down trend in recent couple of months. During March and April 2023 our RMG export declined by 1.04% and 15.48% respectively. The decline in export is seen after 6 months of consecutive positive growths. This may be noted that in this analysis we measure growth in dollar values which does not indicated real growth in export since the increased price of raw materials, freight cost and other cost of production has indeed inflated our export value; thus growth in physical quantity is not significant. In my mails explaining the data of EUROSTAT and OTEXA, you are able to see the difference in value and quantity growth.
In April export earnings from woven sector dropped by 17.48% while earnings from the knitwear sector declined by 13.78%. We anticipate such downtrend may unfortunately continue for few more months as global economy is not in a good shape, fashion brands are reportedly suffering from supply chain and inventory issues in addition to poor sales.
However, we are now compiling the country wide export statistics which will give further details about which countries are doing better and vice-versa. I will soon share with you the data in my next mail. If you find these information useful, then please also share with me any information, insights or analysis you may have which I can share amongst ourselves. Will highly appreciate your contribution.
