The import value of raw goods related to readymade garments (RMG) has increased by 70 per cent year on year in the first ten months of the current fiscal year, owing to a large number of work orders combined with higher raw material prices.
According to Bangladesh Bank data, the import value of garment-related goods was $18.61 billion from July to April of FY’22. The value of yarn imports was $4.44 billion, raw cotton was $3.74 billion, staple fiber was $1.30 billion, dyeing and tanning materials were $876 million, and textile and article thereof were $8.24 billion. Between July and April, yarn imports increased by 147 per cent raw cotton by 50 per cent, textile, article, and thereof by 61 per cent, stable fiber by 56 per cent, and dyeing and tanning material by 27 per cent. The total value of RMG raw goods imports was $10.95 billion during the same period last year.
Yarn was worth $1.79 billion, raw cotton was worth $2.49 billion, textile and articles thereof were worth $5.13 billion, staple fiber was worth $835 million, and dyeing tanning material was worth $690 million. Meanwhile, Bangladesh received a record high of $38.52 billion in RMG exports from the global market during the current fiscal year’s July-May period.