As per the statistics compiled by BGMEA from the EPB’s export data, the overall RMG export increased by 30.73% during the mentioned period of time on a year-over-year comparison. RMG export reached IS$ 27.49 billion dollars during the mentioned 8 months period.
A category wise disaggregated analysis shows that export of knitwear fetched US$ 15.06 billion, while woven garment fetched US$ 12.42 billion, registering 32.87% and 28.23% year-over-year growth respectively.
If we analyse the data for the month of February, RMG export stood US$ 3.51 billion with 33.77% year-on-year growth.
We are yet to compile the country wise export data which I will share with you soon. This will give you further details about which countries are doing better and vice-versa.
It’s encouraging to note such robust growths are happening in consecutive months, it only reflects how committed and resilient we are, and the support we are getting from our workers and the confidence our valued customers have on us. Yet, there are challenges behind such impressive growth picture. The ongoing crisis caused by Russia-Ukraine conflict is creating further turbulence to global economy, especially its spurring inflation as oil price reached record high.
Moreover, Bangladesh’s LDC graduation will bring changes in our market access, particularly in Europe and we need to prepare for that. Particularly we need to make prudent and informed decision to make future investments. We need to focus more on backward linkage industries. As you are aware that the European Commission (EC) has proposed a new GSP scheme for the period 2024-2034, we visited Brussels and Geneva to meet important stakeholders including DG Trade and DG Employment of EC and the Director General of WTO and ILO to place our position with regard to smoother transition and issues concerning proposed EU GSP scheme.
On another occasion, we signed a MOU with the American Apparel & Footwear Association (AAFA) in its office in Washington D.C. to collaborate on building competitive capacities as well as to explore new growth opportunities through product diversification and technology adoption. The MoU testifies the intention of U.S. brands and retailers interest and priority on Bangladesh as an important sourcing destination.
