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31 May 2024

Business Insider Bangladesh

RMG exports witness 14.46% growth in Sept

BI Report || BusinessInsider

Published: 00:06, 3 October 2023  
RMG exports witness 14.46% growth in Sept

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Country's RMG exports witnessed a healthy growth of 14.46 percent in September this year totaling $3.61 billion up from $3.16 billion registered in the same month last year.

Bangladesh's apparel export earnings reached $11.61 billion during this July-September period of FY24 having a growth of 13.07 percent compared to the same period of FY23, the latest statistics of the Export Promotion Bureau (EPB) said on Monday.

BSS adds: During this three-month period, the export earnings from the knitwear sector were $6.76 billion while the export earnings from woven garments reached $4.85 billion.

The EPB statistics showed that export earnings from both knitwear and woven sectors increased by 19.70 percent and 4.97 percent respectively.

Talking to BSS, Mohiuddin Rubel, Director, BGMEA and Additional Managing Director, Denim Expert Limited, said although the orders had been plummeting in the last couple of months, but this single-month growth is really extraordinary.

"Since, we're exploring new growth opportunities including product and market diversification, technology and innovation, we've started gaining the benefits," he added.

Rubel, however, said the cost of production has become skyrocketed due to the global inflation.

The BGMEA Director said the apparel import by the major markets like EU and USA from both the world and Bangladesh have declined over the past few months which is also a bit a matter of concern for all.

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