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Bangladesh’s RMG exports rises 9 per cent in 11 months

Thanks to the safety improvement and increased production capacity, Bangladesh’s RMG exports to the global market rose by over 9 per cent to over $26 billion in the 11 months of the soon-lapsing year. However, growth is less than required to attain the $50 billion export target by 2021 as the sector needs over 12 per cent growth to realise the vision.

Remediation process adopted by RMG units helped improve safety standards to the increased production capacity. Upon completion of remediation, some RMG units received more orders. As per Export Promotion Bureau (EPB) data, Bangladesh earned $26.09 billion during the January-November period, exporting clothings. This was 9.03 per cent higher compared to $23.93 billion a year ago.

Knitwear earned $12.56 billion with an 8.22 per cent rise compared to $11.60 billion in the previous year while woven products earned $13.53 billion, which is 9.78 per cent higher compared to $12.32 billion a year ago. Last year production in many RMG outfits was hampered due to the ongoing remediation to improve safety standard in workplaces for ensuring workers’ safety. After the full-fledged completion of Corrective Action Plans (CAPs), the work order flow would increase and it would be possible to attain a double-digit growth, added the business leader.

 
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