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Apparel export orders shifted to Bangladesh from India
Bangladesh’s apparel industry has taken advantage of the grave Covid situation in India and the military coup in Myanmar. The apparel export orders from these countries have been shifted to Bangladesh now.
Bangladesh’s RMG exports up due to crises in neighbours
Myanmar’s political instability, lockdown in Cambodia and a the COVID-19 situation in India has prompted international retailers and brands to divert work orders to Bangladesh. Export earnings hit $3.13 billion in April.
Myanmar garment export to hit $2 bn
Garment sector in Myanmar is expected to earn $2 billion in 2016-2017. Exports from the garment sector earned nearly 1.7 billion dollars last year. The sector is likely to grow five times more than its current status and employ between 3,00,000 and a million laborers by 2024. The aim is to reach a garment export value of ten billion dollars by 2024.
ASEAN to become ´world´s factory´ in a decade
Rising labour costs, among other reasons, have driven Chinese manufacturers to set up operations in Southeast Asian countries. A study by ANZ Bank economists suggest that Southeast Asia would take over from China to become the ´world´s factory´ in the next 10-15 years, citing its youthful workforce and strategic location as catalysts for this shift.
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