RMG exports soar to new monthly record in June

Bangladesh earned $4.20 billion from exports of readymade garments in June, a record in monthly export in the country’s history, according to the Bangladesh Garments Manufacturers and Exporters Association (BGMEA).

Garments exporters bagged over $4 billion a month in December and January of the FY22. But that amount was less than that of June.

“This amount is the all-time highest in monthly exports,” said Shahidullah Azim, vice president of BGMEA.

He said export receipts grew due to high raw material prices, freight charges and fuel costs.

“Overall, our production costs have increased, which have pushed product prices up,” Azim told Business Insider Bangladesh on Saturday.

He, however, said the ongoing Russia-Ukraine war and rising inflation across the world are impacting their export orders, which were pouring in before the war began on February 24 this year.

With the latest data, Bangladesh’s RMG exports stood at $42.67 billion in FY22 which ended on June 30.