Readymade garment shipments were 13.7% higher compared with the July-March 2018 period

Readymade garment shipments were 13.7% higher compared with the July-March 2018 period

Ready-made garments have boosted exports for Bangladesh during March, jumping 9.35% year-on-year to US$3.3bn.

According to data from the Bangladesh Export Promotion Bureau, for the July to March period, total exports were up 12.6% to US$31bn – with apparel leading the way. Ready-made garment exports were 13.7% higher year-on-year to US$25.95bn during the nine-month period.

Knitwear exports grew 13.07% to US$12.8bn and woven garment exports were 14.22% higher at US$11.5bn. Footwear shipments were 3% higher at US$193.4m.

Bangladesh is expected to graduate from the Least Developed Countries list in 2024, the status under which it enjoys duty-free access to the European Union, Canada and Japan. The World Trade Organization has said the country's GDP has grown at an average annual rate of approximately 6.8% to reach nearly 7.9% in 2017-18 and has "been driven mainly by the ready-made garment sector."