Bangladesh' s apparel exports performed well in Jun' 22

The latest data showed that Bangladesh's apparel exports in Jun 2022 were 4092 million USD, up 41.4% year-on-year and 29.6% month-on-month, respectively. In the first half of 2022, the exports rose by 42.7% year-on-year and increased by 33.2% compared to the same period of 2019.

Bangladesh's knitted and woven apparel exports performed well in Jun and both of them remained high growth rate.  Bangladesh's home textile exports moved up by 65.2% year-on-year to 155 million USD, up 14% month-on-month and up 204.2% compared to the same period of 2019. It can be seen that the COVID-19 pandemic has led to the development of Bangladesh's home textile industry. Although the base was not large, the growth rate was fast.

From July 2021 to May 2022, the European Union was the most important destination for Bangladesh's apparel exports, accounting for over 50%, followed by the United States, accounting for 21.1%, and the United Kingdom, accounting for about 10%, while Canada was relatively small, only 3.1%. The above four markets accounted for 85% of Bangladesh's apparel exports.

In terms of export growth, Bangladesh's apparel exports to the United States grew the fastest, reaching more than 50%, followed by EU and UK, which was also related to the obvious recovery of demand since the second half of last year.

But how long can the rapid growth of Bangladesh's apparel exports last? From the recent economic data released by Europe and the United States and the outlook, it is a high probability that the growth rate will gradually decline, but Bangladesh's exports may still perform well compared with China's exports.