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Bangladesh apparel export to USA suffers due to COVID
Bangladesh's apparel exports to the US sustained a negative growth of over 8% YoY and fetched $1.53 billion in January-March 2021, down from $1.67 billion in 2020. The exports from China and Vietnam saw positive growth.
COVID crisis: Textile exports fell by 13% in FY2020-21
The provisional data of the Cotton Textiles Export Promotion Council revealed that the exports of readymade garments and manmade textile declined by 20.78% and 21.20%, respectively. The final data is expected by May end.
Indian textile sector losing edge: CITI
India ranked fifth in the global textile and clothing exports in 2018 though it was in the second position between 2014 and 2017, according to the Confederation of Indian Textile Industry.
Pak textile exports post dismal 0.68% growth
Pakistan’s textile and clothing exports recorded a meagre 0.68 per cent year-on-year surge to $1.139 billion in December 2018, taking the six-month (July-December FY19) exports to $6.645 billion up 0.06 per cent.
Customs duty on silk fabrics doubled to 20%
Finance Minister Arun Jaitley proposed doubling of customs duty on silk fabrics to 20 per cent to provide adequate protection to domestic industry. According to the Budget 2018-19, customs duty on silk fabrics has been raised from 10 per cent to 20 per cent. Silk exporters, however, said the move would hit shipments of silk garments from India.
Textile exports rise 3.2% in 3 years
As per the data available with the Government, the export of textiles and garments has shown an increase of 3.2 per cent during the last three years.
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