Bangladesh’s knitwear exports maintained robust growth in the 2021-22 fiscal year. As per Export Promotion Bureau The sector bagged nearly 55 per cent of the export earnings in the apparel sector. Knitwear registered a growth of 36 per cent in FY22; earned 18.96 per cent more than the export target set for the fiscal. The apparel sector as whole, the highest earner of the export receipts, grew 35 per cent. Woven garments grew by 33.82 per cent.
During the 1980s, woven clothing, like shirts and pants, was the main export item of the apparel sector, with a share of nearly 90 per cent. Demand for knitwear has been increasing lately, thanks to the maintenance facilities, durability and fashionability. Knitwear uses 85 per cent raw materials from local sources. So the rate of value addition is high.
Domestic value addition is 60 per cent in knitwear, while it is around 45 per cent in woven. This convinced entrepreneurs to invest more in the knitwear sector and for this reason Bangladesh’s export of knitwear is increasing. Knit garments have a strong backward linkage capability. Knitwear clothing is much more comfortable and easier to wear than woven. Another reason knitwear exports have been rising is that people now use sports tracks instead of sweaters during winter.