RMG exports back on track after 7 months
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Monday
January 30, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
MONDAY, JANUARY 30, 2023
RMG exports back on track after 7 months

RMG

Jasim Uddin
01 September, 2020, 10:50 pm
Last modified: 02 September, 2020, 12:12 am

Related News

  • Challenging time waiting for RMG
  • What should be the management strategy of our apparel industry in 2023
  • Another RMG factory in Bangladesh recognised as green
  • RMG owners call for lifting gas import tariffs
  • RMG accessories manufacturers urge govt to retain previous gas price

RMG exports back on track after 7 months

Between August 1 and 30 this year, Bangladesh’s apparel shipments amounted to $3238.75 million, up from $2239.29 million during the corresponding period in 2019

Jasim Uddin
01 September, 2020, 10:50 pm
Last modified: 02 September, 2020, 12:12 am
Photo: Reuters
Photo: Reuters

Readymade garment exports have bounced back on a positive trend in August with about 45 percent year-on-year growth, according to Bangladesh Customs' data, compiled by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

The sector registered such a positive growth after having experienced a negative trend for seven consecutive months. The last time the sector witnessed a positive growth – 1.26 percent – was in December 2019, following a four-month downtrend.

Between August 1 and 30 this year, Bangladesh's apparel shipments amounted to $3,238.75 million, up from $2,239.29 million during the corresponding period in 2019.

Apparel entrepreneurs have linked the growth to two major reasons – the restoration of a part of cancelled orders and no disruption of shipments during the Eid holidays.

"It is a tremendous growth and is beyond our expectation," said Fazlul Hoque, managing director at Plummy Fashions Ltd, the world's greenest knitwear factory.

He further explained that more than $3 billion in earnings despite the eight-day Eid-ul-Adha holidays in August was simply remarkable.

"A part of cancelled orders was possibly shipped in August with new order placement not being much higher," said Fazlul Hoque, former president at the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

"We are delighted with the sector returning to a positive trend," he added.

"If this positive trend continues in the next two months, we may say that apparel export earnings will be sustainable," he added.

Echoing Fazlul Hoque, former BGMEA president Abdus Salam Murshedy said a good number of previously cancelled or suspended orders were shipped in August.

Orders worth over $3 billion were either cancelled or suspended during the March-April period due to the Covid-19 outbreak in the country.

Maybe, a part of July's production was shipped in August as many exporters produce their goods before Eid vacation to ship those items during holidays.

Currently, buyers and retailers are now placing new orders for the upcoming winter as most western stores have no stock of winter apparels, said Fazlee Shamim Ehsan, chief executive officer at Fatullah Apparels Ltd, a knit apparel exporter.

Ehsan, also a BKMEA director, hoped apparel export earnings may bring good news in the coming days too, riding on Christmas celebrations and shipments for next winter and spring.

However, he also said it is very difficult to make any prediction as the Covid-19 pandemic has changed all traditional calculations.

BGMEA President Rubana Huq said that a six-month average growth would be a better depiction of export earning instead of year on year based monthly figures.

"However, if we see it product-wise, while cotton trousers have maintained the biggest share in terms of increase, man made fibre (MMF)-based product categories in tops have also seen good growth," she added.

"And, especially women's/ girls' cotton trousers have seen significant growth and their share in our total export is also higher," Rubana mentioned.

Economy / Top News

RMG Exports / RMG

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Despite downturn 3 dozen listed firms plan Tk7,500cr investment
    Despite downturn 3 dozen listed firms plan Tk7,500cr investment
  • Photo: BSS/AFP
    Bangladesh pledges to reduce corruption to get $4.5b IMF loan Tuesday
  • Mysterious resignation of SIBL chairman, addl MD
    Mysterious resignation of SIBL chairman, addl MD

MOST VIEWED

  • Representational photo: Collected
    2 more factories recognised ‘green’ with platinum rating
  • Photo: Courtesy
    World Bank MD visits Team Group factory
  • Photo: Sustainable Apparel Coalition
    Sustainable Apparel Coalition partners with Bangladesh Apparel Exchange for fourth edition of Sustainable Apparel Forum
  • BGMEA calls on PVH to buy more high-end apparels from Bangladesh
    BGMEA calls on PVH to buy more high-end apparels from Bangladesh
  • Photo: Courtesy
    10 Bangladeshi companies participating at Texworld USA 2023
  • TBS Sketch
    Entrepreneurs should focus on upskilling manpower 

Related News

  • Challenging time waiting for RMG
  • What should be the management strategy of our apparel industry in 2023
  • Another RMG factory in Bangladesh recognised as green
  • RMG owners call for lifting gas import tariffs
  • RMG accessories manufacturers urge govt to retain previous gas price

Features

Photo: Courtesy

The Hawkers: Where minimalism meets motifs

14h | Brands
TBS illustration

Where do Shariah-compliant mutual funds stand in Bangladesh

12h | Panorama
Sketch: TBS

A subsidy war without winners

12h | Panorama
Photo: Collected

Oppo Reno 8T first look revealed!

13h | Brands

More Videos from TBS

two more factories of the country got platinum certificate.

two more factories of the country got platinum certificate.

4h | TBS Today
Iconic villains of Bollywood

Iconic villains of Bollywood

5h | TBS Entertainment
General knowledge "Gravity"

General knowledge "Gravity"

3h | Videos
Will tanks turn the tide for Ukraine?

Will tanks turn the tide for Ukraine?

4h | TBS World

Most Read

1
Picture: Collected
Bangladesh

US Embassy condemns recent incidents of visa fraud

2
Illustration: TBS
Banking

16 banks at risk of capital shortfall if top 3 borrowers default

3
Bapex calls candidates for job test 9 years after advert!
Bangladesh

Bapex calls candidates for job test 9 years after advert!

4
Photo: Collected
Splash

Hansal Mehta responds as Twitter user calls him 'shameless' for making Faraaz

5
A frozen Beyond Burger plant-based patty. Photographer: AKIRA for Bloomberg Businessweek
Bloomberg Special

Fake meat was supposed to save the world. It became just another fad

6
Representational Image
Banking

Cash-strapped Islami, Al-Arafah and National turn to Sonali Bank for costly fund

EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net