Bangladesh’s garment exports to US declines

Bangladesh’s garment exports to US declines

With the Covid-19 situation in the US under control to some extent, export of readymade garments has risen to the US from various countries. Bangladesh could not take advantage of this and its exports have declined.

Dhaka,
Bangladesh

With the Covid-19
situation in the US under control to some extent, export of readymade garments
has risen to the US from various countries. Bangladesh could not take advantage
of this and its exports have declined.

The US Department
of Commerce’s Office of Textiles and Apparel (OTEXA) released the latest data.
According to OTEXA, Bangladesh exported apparel products worth about $2 billion
(199.79 crore) or Tk 169.82 billion (16,982 crore) to the US in the first four months
of 2021, that is a 3.71 per cent fall comparing to the corresponding period of
the previous year.

Bangladesh is the
third largest apparel exporter to the US after China and Vietnam. China and
Vietnam’s export to the US, however, have increased.

Mohamamd Hatem,
Vice president, Bangladesh Knitwear Manufacturers and Exporters Association
(BKMEA) said that, exports dropped a little last May because of Ramadan and
Eid.

He also said that
buyers are offering lower prices despite the work orders but the price of
cotton has increased and, in many cases, the situation gets complex since
buyers do not want to offer prices close to the manufacturing cost. For this
reason, entrepreneurs have been forced to decline many work orders.

Source:
Prathom Alo English

Also Read:

https://indiantextilejournal.com/latest-textile-industry-news/antimicrobial-finishes-attract-textile-chemical-makers

https://indiantextilejournal.com/latest-textile-industry-news/pakistan-textile-exports-to-increase-by–5-bn-by-2022

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