Bangladesh apparel industry’s export is showing steady growth, according to Bangladesh Garments Manufacturers Association (BGMEA) in the first two weeks of march Bangladesh exported apparel worth $1.63 billion. This is more than 52% YoY growth. This highlights the resiliency of Bangladesh's RMG export industry.
Ongoing global demand and the anti-China sentiment is contributing to export growth. Due to the war, Bangladesh is cut off from the $600 million Russian market.
According to EPB, In July-February of FY22, readymade garment shipment saw about 30% growth to $27.49 billion over the corresponding period in the previous year. This growth number is promising however it is uncertain if it will continue.
March is the peak season for the Bangladesh RMG industry and as such suppliers are recovering more orders from the US.
Photo Courtesy: Canva
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