Bangladesh exported garments worth $4.49 billion in February 2024, one of the highest for any single month, undergoing a year-on-year growth of 13.93 percent, according to data from the Export Promotion Bureau (EPB).
The garment export during the first two months of this year amounted to $9.47 billion, registering a 13.15 percent year-on-year growth.
In terms of the fiscal year 2023-24, garment export in the July-February period reached $32.86 billion with a year-over-year growth of 4.77 percent
“This is certainly a significant and inspiring turnaround for us, as the industry is struggling to stay on course facing numerous challenges in both local and international fronts,” said Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association.
“Looking ahead, 2024 presents a crucial opportunity for us to turn the tide,” he said in a statement yesterday.
“By further diversifying our industry, incorporating modular production practices, and continuously adapting to the evolving global business landscape, we can not only overcome these challenges but also propel ourselves towards even greater heights,” Hassan said.
The BGMEA chief also said he was filled with immense confidence for the future of Bangladesh’s garment industry.
“The growth is accompanied to some extent by recent investments in diverse items, which is crucial to safeguard our industry against vulnerability and secure a balanced growth, while demonstrating our commitment to the future,” read the statement.
Credit The Daily Star