RMG exports up by 3.45pc in July-January of FY 2023-24

As per the latest statistics of the Export Promotion Bureau (EPB), readymade garment exports reached US$ 28.36 billion during July-January of FY 2023-24, 3.45 per cent up compared to the same period of the previous fiscal year.

“Our RMG exports grew by 3.45 per cent year-over-year basis to US$ 28.36 billion from US$ 27.41 billion during the same period of the fiscal year 2022-23,” said a press release sent by Mohiuddin Rubel, director at BGMEA. 

The exports of knitwear were US$ 16.17 billion, growth increased by 8.15 per cent and woven garments were US$ 12.18 billion, growth declined by 2.20 per cent, the release added.

The single-month apparel export earnings that indicate export in January 2024 was US$ 4.97 billion, with an increase of 12.45 per cent growth compared to January 2023.

The overall growth in RMG exports is not up to the mark and not bad either, it said.

However, the recent trend in trade reflects a depressing scenario for the retail business and economy, which might be continued throughout this year.