Bangladesh’s readymade garment exports fell by 12 per cent in September 2022 compared to September 2021.And apparel exports in September 2022 decreased by nearly 20 per cent from August 2022. This is because of sluggish demand for apparel products on the global market.

Poor growth in readymade garment exports is expected to continue for the next few months due to the global economic instability. Overcoming the Covid pandemic shock, Bangladesh’s readymade garment sector had started growing with an increased demand on the global market, but the Russia-Ukraine war created a new challenge. Global buyers have decreased their orders by nearly 30 per cent as consumption of apparel has decreased in Europe and the United States due to high inflation.

Bangladesh’s apparel exports from July to August increased by 26 per cent compared to the same period of the earlier fiscal. Exports earnings from apparel in August 2022 grew by 36 per cent compared to the same month of 2021. Apparel export earnings in the first quarter of fiscal year 2023 grew by 12per cent compared to the same period of fiscal year 2022.

Bangladesh aims at hiking apparel exports to South Korea with diversified items such as underwear, denims, shirts, jackets and pullovers.