Bangladesh hit a historic high in its garment shipment in January, signaling a strong rebound in the global economy and export sector.
According to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), January 2024 marked the highest export turnover ever recorded in a single month for the country.
Data from the Export Promotion Bureau (EPB) compiled by BGMEA reveals that Bangladesh exported garments worth $4.97 billion in January, marking a significant 12.45% year-on-year growth.
Following a sluggish performance in the October-December quarter of 2023, the export growth trajectory has taken a positive turn.
Knitwear exports surged by 17.32% year-on-year in January, while woven garments rebounded with a 7.16% growth.
BGMEA President Faruque Hassan hailed this achievement as a monumental milestone, attributing it to the industry’s continuous expansion and efforts to diversify product and market bases.
He emphasized the need for cautious optimism, acknowledging the potential risks associated with rapid expansion and overcapacity in the industry.