Latest data from CCF Group shows that Bangladesh's apparel exports increased by 16.6 per cent Y-o-Y in July 2022 to $3,367 million while it declined by 17.7 per cent month-on-month. And the knitted apparel exports rose by 11.8 per cent Y-o-Y but decreased by 16.9 per cent M-o-M. Bangladesh's woven apparel exports increased by 23.1 per cent Y-o-Y but declined by 18.8 per cent M-o-M.
The fiscal year of Bangladesh was from July last year to June this year. Pants emerged as the largest exported apparel item, accounting for 34 per cent in fiscal year 2021/2022, T-shirts and knitted shirts came second at about 23 per cent, sweaters accounted for 13.2 per cent, shirts and tops accounted for 6.5 per cent, which had been decreasing for years. The growth rate of exports of all categories in the fiscal year 2021/2022 were over 30 per cent, yet the totaled exports only achieved 16.6 per cent growth in July. The growth of Bangladesh’s apparel exports is expected to move down further considering the consumption status in EU and US countries.
During the fiscal year 2021/2022, the European Union was the most important destination for Bangladesh's apparel exports, accounting for over 50.2 per cent of the total, up by 33.9 per cent compared with last fiscal year. The exports to the United States reached $9billion, accounted for 21.2 per cent of the total, and increased by 2.3 percentage points.