Export-Earning Product
Top 10 Export-Earning Products of Bangladesh
Bangladesh’s export earnings hit a record high of $52.08 billion in FY22. However, inflation and economic slowdown across the world impacted the country's export earnings. Though clothing is the main export product of Bangladesh, the export basket includes many other products that contribute significantly to the economy. Let’s take a look at Bangladesh’s top export products.
10 Major Exportable Products of Bangladesh Bringing Highest Earning
Besides the apparel industry, small factories of various export products have been developed in all corners of the country by private initiatives. Here are the product categories that bring the highest foreign exchanges for Bangladesh.
1. Readymade Garments
In Fiscal Year (FY) 2021-2022, the export value of Bangladesh’s Ready-Made Garment (RMG) sector reached an estimated $31.46 billion or approximately Tk. 3,33,639 crore (the exchange rate is equivalent to Tk. 106.05), which was a growth compared to the previous year’s figure of $27.95 billion or approximately Tk. 2,96,415 crore (the exchange rate is equivalent to Tk. 106.05).
Read More: BGMEA, SOWTEX to help connect more Bangladeshi RMG exporters with Indian textile suppliers
The RMG exports of Bangladesh comprise a wide range of knitwear and woven garments, including shirts, pants, T-shirts, jeans, jackets, and sweaters.
Notably, the Export Promotion Bureau (EPB) statistics indicate that knitwear products saw a remarkable rise of 36.88% to $23.2 billion, or approximately Tk. 2,46,040 crore, outstripping woven garments, which increased by 33.82% to $19.4 billion or Tk. 2,05,741 crore approximately.
This surge in the apparel industry has had a great impact on Bangladesh’s economic development. The major foreign markets for Bangladesh’s RMG exports in FY22 were the United States, the United Kingdom, Germany, Italy, France, Spain, the Netherlands, Canada, and Belgium.
2. Jute and Jute Products
Bangladesh is one of the leading exporters of jute and jute products in the world. The country has a long history of jute cultivation and manufacture, dating back to the colonial era. Bangladesh’s jute industry is in the middle of a period of immense success.
Read More: Export of jute products a boon for Satkhira women.
1 year ago