Bangladesh apparel exports decline 3.73% in July-Feb FY21

Readymade garment exports from Bangladesh declined by 3.73 per cent in the first eight months of fiscal 2020-21 compared on year-on-year basis, according to data from the Export Promotion Bureau. Bangladesh fiscal year runs from July 1 to June 30.

Category-wise, knitwear exports increased by 4.06 per cent to $11.345 billion in July-February 2020-21, as against exports of $1.898 billion during the same period of the previous fiscal, as per the data.

However, exports of woven apparel decreased by 11.49 per cent to $9.691 billion during the period under review, compared to exports of $10.948 billion during the comparable period of 2019-20.

Woven and knitted apparel and clothing accessories’ exports together accounted for 81.32 per cent of $25.862 billion worth of total exports made by Bangladesh during the first eight months of the current fiscal.

Meanwhile, home textile exports (Chapter 63, excluding 630510) increased 38.92 per cent to $730.82 million during the eight-month period under review, compared to exports of $526.08 million during the corresponding period of the previous fiscal.

In the fiscal ending June 30, 2020, readymade garment exports from Bangladesh declined 18.12 per cent to $27.949 billion compared to exports of $34.133 billion in the previous fiscal, mainly on account of COVID-19 pandemic and lockdowns. For the current fiscal, the country has set an export target of $33.785 billion.

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