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Apparel exports of Bangladesh show growth

Jul 07, 2021
Apparel exports of Bangladesh show growth

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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