Bangladesh Sees 10.67% Rise In Garment Exports, Hits $42.6 Bn In First 11 Months of FY23

[Destranator]

Bangladesh Sees 10.67% Rise In Garment Exports, Hits $42.6 Bn In FY23​

06 Jun 23

Insights
Bangladesh's RMG exports increased by 10.67 per cent to $42.63 billion during the first 11 months of fiscal 2023, surpassing the target of $42.308 billion.
This growth is attributed to knitwear and woven apparel. However, home textile exports fell by 30.14 per cent.
Together, these sectors represented 87.29 per cent of Bangladesh's total exports.
Readymade garment (RMG) (Chapter 61 & 62) exports from Bangladesh increased by 10.67 per cent to $42.630 billion in the first eleven months of fiscal 2022-23 (FY23) compared to exports of $38.521 billion in July-May 2022, as per provisional data released by the Export Promotion Bureau (EPB). Knitwear exports grew at a faster pace than woven garment.
RMG exports from Bangladesh were 0.98 per cent higher than the target of $42.308 billion for July-May 2023, as per EPB data. Exports of knitwear (Chapter 61) increased by 10.92 per cent to $23.278 billion in July-May 2023, as against exports of $20.985 billion during the same months of the previous fiscal.
Exports of woven apparel (Chapter 62) increased by 10.36 per cent to $19.352 billion during the period under review, compared to exports of $17.535 billion during July-May 2022, as per the data.

Home textile exports (Chapter 63, excluding 630510) decreased by 30.14 per cent to $1,024.98 million during the period under review, compared to exports of $1,467.19 million during July-May 2022.

At the same time, woven and knitted apparel, clothing accessories and home textile exports together accounted for 87.29 per cent of Bangladesh’s total exports of $50.527 billion during July- May of FY23.

In 2021-22, Bangladesh achieved an all-time high in the value of its RMG exports, reaching $42.613 billion, which represents an increase of 35.47 per cent compared to the exports of $31.456 billion in fiscal 2020-21. Despite the global slowdown, Bangladesh has succeeded in achieving a growth in garment exports in the recent months.

Bangladesh sees 10.67% rise in garment exports, hits $42.6 bn in FY23

Bangladesh's RMG exports increased by 10.67 per cent to $42.63 billion during the first 11 months of fiscal 2023, surpassing the target of $42.308 billion. This growth is...

www.fibre2fashion.com

 

[-=virus=-]

chaddi I'm wearing right now is made in bd

is good quality m&s one

well done, keep stitching.

 

[Bengal71]

How do we still have dollar crisis?

 

[bluesky]

How do we still have dollar crisis?

A large import payment, a large repayment of borrowed money, much of which was stolen and stashed in foreign banks and properties.

The list goes on. BIMAN’s purchasing of planes with FEX can be another example shortly.

 

[Destranator]

How do we still have dollar crisis?

Inward remittances down, non-import payments up.

 

[fallstuff]

The way USA is piling up pressure on the Govt, the folks doing the looting may think the end is near and therefore putting stealing money on the express lane !
I doubt Hasina will back off, she has nothing to lose at her age and nowhere to go.

 

[Bilal9]

chaddi I'm wearing right now is made in bd

is good quality m&s one

well done, keep stitching.

It has been established that you have no gonads - feel free to shop for chaddis in the ladies section.

Since you also possess panty-waist because you hardly eat anything, should fit you just fine.

 

[-=virus=-]

It has been established that you have no gonads - feel free to shop for chaddis in the ladies section.

Since you also possess panty-waist because you hardly eat anything, should fit you just fine.

weak

 

[damiendehorn2]

weak

Yup you are, soy boy.

 

[-=virus=-]

Yup you are, soy boy.

ja k chaddiyan sil be, hilsakhor pole vaulter chamaar

gandi shakal teri

dirty soul

 

[Chute]

A large import payment, a large repayment of borrowed money, much of which was stolen and stashed in foreign banks and properties.

The list goes on. BIMAN’s purchasing of planes with FEX can be another example shortly.

Not to mention USD has inflated around 7% for 2 years prior and is still inflating at about 5% currently.

A 10% growth in earnings in USD thus represents only about 3 - 5% actual volumetric increase (driven by gross or net labour addition, productivity etc etc commensurate to foreign market demand trends).

Payments to be made in USD (as destranator has correctly pointed out) are increasing by this USD inflation as well adding on top to the way BD govt has mismanaged loan intake structurally for a while now....as again capital account reform is something this govt will never touch....just like they will never touch tax base and fiscal reform internally either.

They prefer to blah blah instead "see 10% growth!) without giving actual important breakdown of it....or spotlight some BBS figure to deflect.

Hence the 3 - 5% volumetric gains from RMG or anything else in the relative green are just eroded to nil or even negative by the losses from capital account side stagnancy or deterioration when you do the final total.

Thus the stress impacted on forex total....and any actual ability to invest/acquire in deep breakout way that the population needs.

It is unlikely BD govt was able to acquire US treasury bonds (in light of liquidity needed when forex total is low) in say last 5 - 10 years. So the forex pile itself does not index itself in any way to USD own inflation rate....essentially a 0% earning instead of at least a few % because BD always needs to keep such cash on hand in such tight economic ship.

 

[bluesky]

chaddi I'm wearing right now is made in bd

is good quality m&s one

well done, keep stitching.

Abe, bhosriwala motherchod, tu kyun Bangladesh forum pe a kar dillagi dekha raha?

Tere jaise Murkh ke lyeto Mahabharata Forum Khulla his Jain. Tu udhar ja.

Bhag yahan se!!!

 

[damiendehorn2]

ja k chaddiyan sil be, hilsakhor pole vaulter chamaar

gandi shakal teri

dirty soul

Still haven't learnt English yet, soy boy?

 

[-=virus=-]

Still haven't learnt English yet, soy boy?

chaddiyan sil

and always be thankful to India who stopped an angry Punjabi Pak army from butchering you lungi hilsakhor kamzor lot wholesale

handed you your freedom too as opposed to annexing your @ss

now go suck on your hilsa, shorandeshi

 

[fallstuff]

Exports are going through the roof but somehow power plants keep shutting down for lack of fuel !