Page 2 - Garment Export News Today

British retail giant Primark's CEO Paul Marchant has praised the development Bangladesh's garment sector has achieved in production of apparels in green factories. Bangladesh's apparel industry is a very important sourcing destination for Primark, he said.

Bangladesh is poised to become the source of most of the European Union's (EU) apparel as China, the largest apparel supplier worldwide, is witnessing a decrease in its share of trade with the bloc. The penetration of Bangladeshi garment items has been growing with rising demand for basic and value-added garments.

International buyers are consistently paying lower than the global average price to apparel suppliers in Bangladesh but higher to some of the country's competitors, according to the International Trade Centre (ITC).

Local garment manufacturers are pumping money to expand their capacity to produce technical garment items such as activewear and workwear since their demand is rising in the western markets. 

Around 73 per cent of Bangladesh's garment exports is still limited to nine countries for a lack of market diversification in spite of different public and private initiatives. 

BGMEA calls on the government to retain 0.5% tax at source for exports

At least $8.3m apparels were waiting for export at fire-ravaged Bangladesh depot

Bangladesh earned $3.83 billion in merchandise exports in May, the lowest in nine months, as buoyancy in demand ebbed owing to higher inflation, according to data released by the Export Promotion Bureau (EPB) today.

The textile and garment industry is forecast to have a bright prospect in 2022, but as share prices have increased sharply since 2021, many stocks may not continue to rise significantly.

Two of Thailand’s economic engines are beginning to roar again after being ravaged by falling foreign demand during the Covid-19 crisis. The textile and garment industries suffered severe impacts in 2020, with 3,000 factories forced to switch to sewing face masks and PPE suits to survive.