RMG exports increased by 27.64% in 2022 compared to the calendar year 2021, to $45.70 billion.
The 2022 calendar year, which has just ended, was a turning point for Bangladesh’s export of readymade clothing (RMG). According to figures from the Export Promotion Bureau (EPB) and Bangladesh Garment Manufacturers and Exporters Association (BGMEA), RMG exports reached $45.70 billion in 2022, a gain of 27.64% over the previous year.
The export revenue from the knitwear industry was $24.71 billion, while the revenue from the woven industry was $20.99 billion, both of which will grow by 26.11% and 29.48% annually in 2022.
Industry executives believed that apparel entrepreneurs made a special effort to boost exports even more as part of the post-COVID rebound.
Figure 1: In 2022 RMG export reached $45.70 billion with 27.64% growth compared to 2021 calendar year.
Faruque Hassan, President of BGMEA said to Textile Today, “What happened here is that, we have done extensive branding of our textile and apparel industry. At the same time, from 2021, our apparel entrepreneurs have solidly invested in expansion, up graded technology, machinery and processes. Same goes for our backward linkage textile and allied industry – which also witnessed a solid investment.”