Bangladesh's apparel export value in May not recover to the level in same period of 2019

According to the latest data, Bangladesh's apparel export value rose by 107.8% year-on-year in May, reaching 2.557 billion USD, up 1.6% month-on-month. Compared with April 2019, the apparel export value dropped by 21.2%. On varieties front, the export value of knitted and woven apparel inched up by 1.8% and 1.3% month-on-month respectively, up 124.6% and 91.4% year-on-year. Compared with May 2019, the export value of knitted and woven apparel declined by 14.5 and 27.7% year-on-year respectively, indicating that the export of woven apparel still performed weaker than knitted one.

In May, Bangladesh's home textile export value amounted to 81 million USD, up 62.6% year-on-year but down 26.3% month-on-month. It rose by 5.4% compared with that in same period of 2019. Bangladesh's home textile export value in Jan-May climbed up by 25.3% year-on-year, which indicated that the overall export value performed well in Jan-May.

In terms of monthly changes, yearly growth rate in May reduced not least because of the abnormal value caused by the low base in April last year. The month-on-month decline shoed that the recovery speed of Bangladesh's apparel exports value slowed.

Bangladesh's home textile export value in May slipped sharply but was up on that in same period of 2019. However, but the momentum may gradually weaken later.