Export drops 5pc in January
Earnings from merchandise exports fell 4.99 per cent year-on-year to $3.43 billion in January because of slower recovery of garment shipment from the pandemic-induced business slowdown, official data showed yesterday.
January s receipts were 9.58 per cent lower than the monthly target of $3.80 billion, according to data from the Export Promotion Bureau (EPB).
Between July and January, the first seven months of the fiscal year, the shipment of garment, which typically contributes more than 80 per cent to the national export, declined 3.44 per cent year-on-year to $18.40 billion.
Of the earnings from the apparel export, $9.98 billion came from the knitwear shipment, which was up 3.84 per cent. The export of woven items declined 10.85 per cent to $8.41 billion.
CREDIT: A.M. Ahad / Associated Press
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Bangladesh’s garment sector has faced harsh headwinds throughout the coronavirus crisis, weathering both economic damages and high rates of infection in its factories. Now, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) is lobbying on behalf of its factory owner members to make sure it gets they get a shot at the Covid-19 vaccine. The…
Garment makers turning to artificial fibres
Exporters aim to grab a bigger share of high-end apparel business as demand rises worldwide
Import of man-made fibre (MMF) as well as investment in its business is increasing in Bangladesh because of higher demand for polyester and viscose-made garment items worldwide.
Local spinners imported 99,345 tonnes of polyester staple fibre (PSF) in 2020, up 3.4 per cent from 96,077 tonnes a year ago even during the coronavirus pandemic, according to data from the Bangladesh Textile Mills Association (BTMA).
Currently, 40 spinning mills import PSF fibre to make yarns to produce high-end garments, such as sportswear.
The import of viscose staple fibre (VSF) rose last year as well as spinners brought in 72,504 tonnes of VSF, an increase of 36 per cent year-on-year.
Bangladesh to outperform Asian peers in economic recovery
Finds StanChart study presented in BGCCI discussion Star Business Report Star Business Report
Bangladesh is likely to recover faster than its Asian peers from the Covid-19 fallout thanks to improving exports, growth in domestic consumption and remittance inflow, according to a study of Standard Chartered bank.
In fiscal 2020-21, the economy will bounce back led by growing exports and remittance, which will also give a boost to consumption, it said.
Anubhuti Sahay, head of South Asia economics research of Standard Chartered Singapore, presented the findings of the study titled 2021 Outlook: The Road to Redemption at a virtual discussion organised by the Bangladesh-German Chamber of Commerce and Industry (BGCCI).
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The volume of Cambodian garment, footwear and travel goods exports dipped 10 per cent in the first 10 months of 2020 over the corresponding period in the previous year. POST STAFF
Asia apparel groups push for better buyers
Thu, 21 January 2021
In a show of solidarity, the Garment Manufacturers Association in Cambodia (GMAC) joined forces with eight competing Asian textile and garment lobby groups to demand better purchasing practices in an industry wrestling with Covid-19 production and supply chain disruptions.
The Sustainable Textile of the Asian Region (STAR) Network is the first inter-Asian network of producer associations of the textile and garment industry, which came together on January 12, marking the start of a new initiative, STAR Network said in a January 18 press statement.