Apparel export earnings drop 5.71% in
Export earnings from apparel items fallen by 5.71% in
July-January 2019-20 period in comparison to July-January
According to the Export Promotion Bureau (EPB) data,
earnings from RMG (Ready-made Garments) export for Export
performance (Goods) for FY 2019-20 July-January is USD19.06
Earning from woven garments fell by 6.29% to $9.44 billion
in July-January of FY2019-20 from $10.07 billion in the same
period of last fiscal year. On the other hand, knitwear
export fell by 5.13% to $9.62 billion from $10.14 billion.
“December and January are supposed to be peak months and we
haven’t picked up yet as the problems, the industry is
facing, still exist,” Bangladesh Garment Manufacturers and
Exporters Association President Rubana Huq said.
She said that prices of products had not gone up after the
minimum wage hike and the sector continued having problems
of overcapacity accompanied by a strong currency.
“I am afraid if the anti-export bias and a few perceptions
of us having sufficient support do not end, we will continue
to be where we are and may expect worse,” Rubana said.
Mohammad Hatem, first Vice-President of the Bangladesh
Knitwear Manufacturers and Exporters Association, blamed low
prices of RMG products and decreased procurement by the
buyers for the negative export growth.
He also expressed that the Bangladesh RMG sector imported 60
percent of its raw materials from China and if the outbreak
disrupted supply chain, the country’s (Bangladesh) export
would be affected badly for coronavirus outbreak. .
China extended its New Year holidays for two more weeks due
to the coronavirus outbreak and the extended holidays might
a cause for the shipment delay or air shipment of export
goods for Bangladesh.
He also said that the virus outbreak might be an opportunity
for Bangladesh to grab more share in the global market as
buyers might search alternative sourcing.
The home textile export fell by 9.7% to $442.67 million in
the period from $490.2 million in the same period of last
On the other hand, jute and jute goods export witnessed a
20.82% leap compared to the same period of last fiscal year.
The sector earned $602.49 million July-January of FY2019-20
from $498.66 million in the same period of last fiscal year.