Page 2 - Rmg Export News Today

Export earnings declined 16.52 per cent year-on-year to $3.95 billion in April as the shipment of garments, the key export item, dipped owing to a reduced purchasing capacity of consumers in the western countries amid persistently higher inflation.

Theft of RMG cargo on Dhaka-Chattogram highway: Such incidents are becoming a serious problem for apparel exporters

Sabiha Saiki Fashion shipped 85 consignments worth Tk 22 crore through Ctg port in the last three years using fake documents

International retailers and brands have been cancelling, delaying or putting work orders on hold in garment factories because of volatile global economic situation and for unsold stockpiling of the clothing items in the stores.

Bangladesh ships apparel items to the Middle Eastern countries and the good thing is local garments are steadily gaining popularity in the Middle eastern countries.

Bangladesh may not able to achieve the RMG export target set for the current fiscal year because of the energy crisis, fall in work orders, and higher inflation in European countries, BGMEA President Faruque Hassan said today.

Read more about Bangladesh garment manufacturers seek India's cooperation in apparel sector on Devdiscourse

In recent months, the Bangladeshi taka has plummeted to new depths against the US dollar amid a worsening foreign exchange reserve crisis. This dollar crisis is impacting the RMG makers in Bangladesh in many ways, mostly negatively.

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. 

RMG export: Apparel exporters in Bangladesh are feeling the pinch of a looming global recession, persisting higher inflation and dragging severe fallout of the Russia-Ukraine war as orders from international buyers have fallen.