Despite dwindling trade in the international market, Bangladesh’s apparel exports took a big leap during the month of September 2018 – a mismatch in figures that has arisen due to slumping trade during the same period last year.
According to latest data published by Export Promotion Bureau, Bangladesh exported US 8.19 billion worth of readymade garments products during July-September period, which was a whopping 14.66 per cent gain on a year-to-year (Y-to-Y) basis. During Jul-Sep 2017, apparel exports amounted to US $7.14 billion.
Month-wise, the export earning of September 2018 amounted to US $ 2.46 billion which was about 10 per cent lower compared to the US $ 2.71 billion of August 2018. Also, the apparel exports of July-September 2018 surpassed the strategic target by 4.75 per cent.
Further analysis by Apparel Resources reveals, September fetched US $ 1.29 billion worth of knitwear products, which came down from US $ 1.38 in August, and US $ 1.16 billion worth of woven products, which during last month was US $ 1.33 billion. The growth of knitwear products during the July-September period was 12.27 per cent and that of woven was at 17.30 per cent (on a year-to-year basis).
Cumulatively, the total exports of Bangladesh amounted to US $ 3.1 billion in September; and surprisingly enough, apparel exports occupied just over 78 per cent of the basket. Usually, garments items occupy over 82 per cent of the country’s total exports.
September’s total export performance was also a huge leap for Bangladesh with over 54 per cent gain on a year-to-year basis in comparison to September 2017. However, the export sum was a 14.4 per cent more from the strategic export target for the month.