Page 61 - New Cloth Market December 2022 Digital Edition

INTERNATIONAL BUSINESS PAGES

Woven Garments
The first quarter of FY23 showed a declining trend of ex-
port earnings from woven, which stood at USD 4624.88
million, 9.14 percent down from the previous quarter but
18.73 percent higher than that of the same quarter of the
previous year. Moreover, exports of woven garments were
1.88 percent higher than the quarterly export target (Table-
1). Chart-4 shows quarterly trend of export earnings from
knitwear and woven garments.
Import of Raw Materials and Net Exports from RMG

The import value of raw materials (raw cotton, synthetic/
viscose fibre, synthetic/mixed yarn, cotton yarn and tex-
tile fabrics and accessories for garments) was USD 4984.13
million in July- September FY23, accounting for 48.51 per- the USA, Germany, UK, Spain, France, Netherlands, Italy,
cent of total RMG export earnings. As a result, net exports Canada, and Belgium (Chart-6). During July-September of
from this sector stood at USD 5290.21 million in the first FY23, total export earnings from these nine countries stood
quarter of FY23 which was 12.49 percent lower than that of at USD 8262.32 million; of which 89.84 percent or USD
the preceding quarter but 9.31 percent higher than the same 7422.70 million was earned from the RMG (woven 41.37
period of previous year. The imports of raw materials and percent and knitwear 48.46 percent) exports (Table-3).
net export based on L/C statement from FY20 (July-Sep-
tember) to FY23 (July-September) are shown in Chart-5 During the quarter under report, RMG export earnings from
and Table 2 respectively. these nine countries decreased by 9.65 percent as com-
pared to that of the previous quarter but this was 12.18
Destination of RMG Exports
percent higher than that of the corresponding quarter of the
The main destinations of Bangladesh’s RMG exports are preceding fiscal year.

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