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Saturday, 11 March 2023 04:05

Bangladesh's sectoral apparel exports surge by 59.25%, with top products contributing $4.28 bn

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Bangladesh's top 31-60 apparel products saw a surge in export earnings in 2022, with a growth rate of 59.25 per cent. The products, which include men's and boys' woven overcoats, non-cotton woven shirts, and women's and girls' knitted blouses and overcoats, earned USD 4.28 billion in 2022, up from USD 2.69 billion in 2021 and USD 2.07 billion in 2020.

According to data, men or boys MMF woven overcoats were the highest exportable apparel item of Bangladesh, with exports worth USD 263.94 million in 2022. The second-highest item was men or boys non-cotton woven shirts, with exports worth USD 209.72 million in 2022, up from USD 111.22 million in 2021. Bangladesh's share of global imports for this item was 11.23 per cent in 2021.

In addition, the earnings from women or girls cotton knitted blouses increased by 50.63 per cent in 2022 compared to 2021, with exports worth USD 205.66 million. Other significant items included women or girls MMF woven overcoats, car-coats, capes, cloaks, anoraks, women or girls cotton woven jackets & blazers, men or boys cotton woven jackets & blazers, women or girls woven of rubberized or coated fabrics, M/B synthetic knitted trousers, woven clothing accessories, men or boys cotton knitted pajamas, women or girls cotton knitted coats, men or boys non-cotton woven trousers, women or girls synthetic woven jackets & blazers, women or girls MMF knitted briefs.

These 30 items account for 9.38 per cent of the total apparel export earnings of Bangladesh. The increase in earnings from these items is expected to boost the country's economic growth, as the apparel sector is a key contributor to its GDP.