Irrespective of the economic meltdown with the gross domestic product (GDP) contracting by 11.8 percent in 2022, BOI enterprises have generated USD 8.7 billion through merchandise exports, posting 8 percent of growth compared to 2021.
BOI enterprises contributed 99% of garment exports, 81% of textile exports, 93% of leather, travel goods, and footwear, 83% of machinery and mechanical appliances, 88% of printing industry products and 81% of transport equipment.
Textile and garment exports grew 12% to US$ 5.8 billion in 2022 compared to the US$ 5.2 billion recorded in 2021, while leather and travel goods and footwear exports grew 52 % to US$ 80 million.
Export earnings from gems, diamonds and jewellery increased by 19% to US$ 147.57 million in 2022 while machinery and mechanical appliances grew 16 % to US$ 484.77 million and printing industry products exports grew 12% to 46.47 million.
Base metals and articles exports grew 11% to US$ 85.53 million, while Ceramic products exports grew 3% to US$ 260.66 million.
The performance was primarily driven by apparel exports, which showed the highest earnings in 2022 while rubber products showed the second highest export earnings, and Leather and travel goods and footwear Exports reordered the highest percentage in terms of growth.
The BOI has contributed over 66% of the country’s overall export earnings and 85% of industrial export earnings.