In August 2022 Bangladesh’s exports increased by 36 percent compared to the same period of the previous year.

Main reasons for this growth are the increased prices of raw materials, increase in cost of freight transportation and some orders from China shifting to Bangladesh. Key players in this growth were the readymade garments, home textiles and leather and leather goods sectors. Earnings of the readymade garment sector increased 26 per cent over that of last fiscal.

Knitwear earnings grew 20 per cent and woven garment export earnings were up by 34 per cent.Home textile also has a significant contribution to Bangladesh’s exports after readymade garments. Home textile exports from July to August 2022 were 53 percent higher than in the same period of the previous financial year.

Entrepreneurs are not yet seeing any negative impact on orders in this sector. Rather, they have plenty of orders in hand. Several orders are coming to Bangladesh, especially from Pakistan. They are expecting more orders because of the flood.

After the Covid crisis, demand increased in Bangladesh’s main export destination countries, so people started placing large orders. But the US and EU are facing record high inflation as the Ukraine-Russia war rages. Consumers have cut back on purchases again. As a result, orders are falling and the reflection will be seen in the next two to three months.