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Bangladesh knitwear exports grow by 4.8%

  

As per the data from the Export Promotion Bureau, Bangladesh’s knitwear exports grew by 4.8 per cent year-on-year to earn $7.13 billion in the period of July to November of the current FY. As per Textile Today, experts attribute the increase in demand to extensive stay at home, which triggered orders and sales of sweaters.

Simultaneously, Bangladesh’s readymade garment (RMG) exports have been bouncing back as the grim year of 2020 almost coming to an end. The RMG sector earned US$ 2.45 billion in November. Although November’s receipts are 8.2 per cent less of the monthly target of $3.35 billion, still the export earnings in the month are the highest in the August-November period. Official data also showed that, from July to November of this year, the sector earned $12.89 billion with a 1.48 per cent growth rate.

As in November, the export of woven garments fell 10.48 per cent while knitwear export grew by 4.97 per cent.

At the same time, home textile exports grew pointedly during the COVID-19 pandemic because of the increase in the use of hospital bed sheets, medical gowns and curtains, especially in the countries that have been severely hit by the rogue pathogen.

 
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