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Based on statistics from the Export Promotion Bureau of the Authorities of Bangladesh, RMG exports had been up 13.4% within the interval from July to September to US$10.27bn from $9.06bn a 12 months earlier.
The determine beat Bangladesh’s export goal of $10.02bn for the quarter.
Knitwear exports, in the meantime, had been up 9.4% to achieve $5.65bn from $5.16bn, beating a goal of $5.5bn. Exports of woven clothes jumped almost 19% to achieve $4.62bn from $3.9bn a 12 months earlier.
Leather-based and leather-based product exports skilled progress of 20.9% within the quarter, incomes $328m in exports from $271.3m within the year-ago interval.
Based on the newest knowledge from the US Workplace of Textiles and Attire (OTEXA), Bangladesh recorded the most important enhance in attire imports to the US in August. Shipments had been up 21.4% to 269 MM2.
Bangladesh is among the world’s largest garment exporters, with the ready-made-garment sector accounting for round 84% of the nation’s whole exports.
Lately, Bangladesh has elevated its focus and funding on product diversification, innovation, know-how upgradation and expertise improvement in a bid to boost its capabilities and competitiveness within the international market.
The nation, which is anticipated to graduate from Least Developed Nation (LDC) standing in 2024, has seen a decline in poverty ranges, steady inflation, average public debt, and a higher resilience to exterior shocks, together with the pandemic, which noticed many garment factories shut throughout lockdowns.
Click on right here to learn Simply Model’s important sourcing information, which has every thing that you must find out about Bangladesh’s attire sector.
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