Bangladesh
2 months ago

RMG exports fetch $5b in January

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The RMG sector, the highest earner of export receipts of Bangladesh, earned nearly $5.0 billion in January 2024 after the political stability following the national election.

The country’s export earnings grew by 14 per cent to $6.70 billion in the first 50 days of this calendar year, recovering from the downward trend in the final three months of last year.

Bangladesh shipped $4.97 billion worth of garments to the EU countries and the US amid the global political crisis and recession.

Export revenue was $1.729 billion till Feb 20 the year, according to media reports.

The growth of the export earnings was negative from October to December last year due to political unrest in the country.

Rakibul Alam Chowdhury, vice-president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said export orders had decreased in the final three months of last year. But in the new year, it bounced back.

In 2023, Bangladesh exported goods worth $47.386 billion, which was $1.677 billion more than the previous year.

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