Apparel exports of Bangladesh show growth
Bangladesh’s apparel exports to the United States bounced back during the first five months of 2021, registering a double-digit growth both in terms of value and volume compared to the same period of last year.
Bangladesh
Bangladesh’s apparel exports to
the United States bounced back during the first five months of 2021,
registering a double-digit growth both in terms of value and volume compared to
the same period of last year. The readymade garment (RMG)
exports to the USA grew by 15.38 per cent to US$ 2.58 billion during the period
from January to May this year.
Apparel
exporters said the industry registered better performance due to the start of
economic recovery aided by the good coverage of Covid-19 vaccination, better
control in coronavirus infection, and a shift of orders from China.
Md Shahidullah Azim, Vice
president, Bangladesh Garment Manufacturers and Exporters Association (BGMEA),
said that the US economy is slowly recovering from the adverse impact of
Covid-19 with the rise in consumer spending.
Besides, the US buyers have
shifted some of their orders from China to Bangladesh while exports from India
to US suffered due to the deteriorating Covid-19 situation, he added.
He, however, hoped that local
RMG exports to USA will increase further with the return of one of its big
companies – the Walt Disney – to Bangladesh.
Disney that stopped sourcing
from Bangladesh eight years back will reinstate Bangladesh as its permitted
sourcing country, he said.
He added that it would also
help to regain the image of the industry that has made significant improvements
in the areas of workplace safety and other issues.
Source: The Financial Express
Image Source: Google Images
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