Apparel export for the period of July-August of FY2023-24 has grown by 12.46% year-over-year basis to US$ 7.99 billion from US$ 7.11 billion during the same period of the fiscal year 2022-23, according to the statistics from the Export Promotion Bureau (EPB).

In July-August period of this year 2023, the apparel export target was US$7.88 billion. The apparel sector has recorded an export worth US$7.99bn – 1.46% over the target.

The export of knitwear was US$ 4.58 billion, while the export of woven garments was US$ 3.42 billion, registering 17.02% and 6.86% year-over-year growth respectively, data from EPB showed.

Also read: RMG exports: Bangladesh earned $3.95 billion in July, says BGMEA

The single-month apparel export earnings which means export in August 2023 was US$ 4.04 billion with 7.99% growth compared to August 2022.

The overall growth in RMG exports is “quite impressive,” BGMEA Director Mohiuddin Rubel.

“The recent trend in trade reflects a depressing scenario of the retail business and economy, which might be continued throughout this year," he, however, said.

Also read: Bangladesh's RMG export to USA grows 6.31% in FY 2023-24 

“For Bangladesh, the positive side is that we are being able to gradually diversify our products and moving toward sophisticated items, which is reflected in the growth,” he added.

In the last financial year 2022-23, total garment export was US$46.99 billion – a 10.27 percent growth.

Also read: RMG exports in FY23 almost $47bn, 85% of total exports