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Garment markets reopen in major destinations Values of apparels increase slightly

23 June 2021

Al Amin :
Reopening the markets of the major destinations of the readymade garments is showing the hope for the country's apparel sector, the entrepreneurs said.
They said scopes have been created to bargain with the buyers regarding fair price of their products due to the growing demand for Bangladeshi apparels gradually in the international markets.
Although the export earnings from the RMG sector have increased slightly compared to the last fiscal year, the export volume is yet to be soared, they added.
They said the improvement of the export earnings is mainly due to rise in apparel prices.
The export earnings from the RMG sector have increased to $28561.85 million in the 11 months (July-May) of the current fiscal year amid the ongoing pandemic situation, which was $25708.93 million in same period of the last fiscal year and $31733.88 million in the 2018-19 fiscal year.
Of the total earnings from the garment sector, some $15362.32 million came from shipment of knitwear items, which was $12743.05 million in the last year and $15682.45 million in the 2018-19 fiscal.
 On the other hand, earnings from woven shipment $13199.53 million in the last 11 months, which was $12965.88 million in the corresponding period of the last year and $16051.43 million in 2018-19 fiscal, according to the Export Promotion Bureau (EPB).
The entrepreneurs, however, said the volume of the RMG goods is likely to increase in the coming days, if the ongoing pandemic situation is not deteriorate further.  
In a video message on Tuesday, Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association, said, "The government has kept the RMG sector out of the ongoing lockdown to save the country's economy. Our member factories have kept continuing their productions by maintaining health guidelines strictly."
"If the situation does not deteriorate further, the export earnings will be increased more in the coming days," the BGMEA chief added.
Mohammad Hatem, Senior Vice-President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said, "The export earnings growth is mainly due to the soaring of products prices having rise in yearn prices in the international markets, although we are still depriving of fair price."
"The reopening of the global markets of the RMG products is showing the new hope for the sector. New orders are coming. Scopes have been created to bargain with the buyers for fair price. Hopefully, we will be able to bounce back sooner," Hatem told The New Nation on Tuesday.
The demand for casual knitwear items continued increasing keeping pace with their shipment even during the crisis moment, as people were staying at home for longer periods.

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