The RMG export statistics for the period of July-May of fiscal year 2022-23. As per the official statistics, country’s RMG export reached US$ 42.63 billion during the mentioned period up from US$ 38.52 billion in July- May of FY 2021-22 indicating 10.67% year over year growth.
A category-wise disaggregated analysis shows that the export of knitwear was US$ 23.27 billion, while woven garments fetched US$ 19.35 billion, registering 10.92% and 10.36% year-over-year growth respectively.
If we analyze the single month (May 2023) data, country’s RMG export grew by 28.33% year-over-year and reached US$ 4.05 billion, which was US$ 3.15 billion in May 2022.
The growth in May is mainly caused due to Eid-ul-Fitre closure in April when the factories were closed for around 10 days. Yet this is a welcome growth despite the fact that factories are mostly running in short of orders, buyers are reportedly facing slowdown in retail sales and supply chain challenges. While our major markets are in economic turbulence, non traditional markets are performing comparatively well and we should all opt for exploring alternative options as challenges tend to linger. I will soon send you a country wise export performance analysis.
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