Saturday, 18 September, 2021

RMG exports bounce back

  • Jannatul Islam
  • 12 September, 2021 12:00 AM
  • Print news

Readymade garment exports of Bangladesh bounced back in last two months as the country experienced growth in the US market.

The country’s apparel makers exported $1177.92 million of products to the United States between July and August which was around 4.57 percent higher than the same period of last year, BGMEA data showed.

“Bangladeshi garment products kept its strong position by dominating the major competitor Vietnam in first seven months of the year,” Shahidullah Azim, vice-president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

 “From January to July, we exported [products worth of] nearly $19 billion compared to Vietnam’s around $17 billion,” he told the Daily Sun on Saturday.

He said Bangladeshi products saw significant growth in India despite 3 months of lockdown there.

The exporters expected that the gap between Bangladesh and Vietnam apparel exports would stand at $5 billion by the end of the year. 

Along with the USA market, Bangladeshi garment products dominated the non-traditional markets including the highest 81 percent growth in neighboring India.

In last two months, the apparel products exported to India were worth of $94.66 million with a growing trend.

The figure was $52.2 million in the corresponding period of 2020.

In terms of export volume, Bangladeshi garment items maintained the highest trade in Japan with $172.91 million sales with a moderate growth of 1.46 percent year-on-year. Despite challenging situation in Europe markets, Bulgaria emerged as a potential territory for the Bangladeshi RMG products with 62.02 percent growth year on year.

Among the non-traditional markets, Chile also showed potentials for the Bangladeshi apparel items with 44.77 percent growth during the July-August period.

The garment manufactures topped the country’s export basket amid pandemic.

It earned $30.86 billion making around 83 percent of the country’s total exports. Bangladesh earned a total of $38.75 billion from exports in the fiscal year 2020-21.