Apparel exports may rebound from next June as fresh inquiries soar

Staff Reporter :
Local apparel producers expected that the readymade garment exports may rebound from next June as fresh inquiries are coming in from the top global buyers, the entrepreneurs said.
They also said that it will take two or three months for placing orders for shipment, despite the surge in apparel inquiries in recent times.
Amid the new economic reality caused by Covid-19 pandemic and the ongoing Russia-Ukraine war, the markets of the top oil producing countries have emerged as a new potential for Bangladesh as the apparel exports have surged in July-February period of the current fiscal year.
Md Shaidullah Azim, Vice-President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), told The New Nation, “The apparel industry is currently passing through a difficult time and the trend may continue more two or three months. But from June or July, apparel exports may rebound as fresh inquiries have increased slightly.”
According to the latest data of the Export Promotion Bureau (EPB), the apparel exports to seven of the top 10 oil-producing countries– Saudi Arabia, Canada, China, UAE, Brazil, Iraq and Kuwait– have increased during the first eight months of the current fiscal year.
The apparels worth $31.36 billion have been exported during the mentioned period. Of the amount, the apparels worth $5.61 billion have been exported to the USA, which was $5.77 billion in the same period of last year.
Meanwhile, the RMG exports to Canada have increased by 20 per cent to $0.98 billion during the time.
Bangladesh is showing quite a surprise in apparel exports to the Middle East markets, the major oil producing countries, in the current fiscal year.
The RMG exports increased by 47 per cent in Saudi Arabia, 18 per cent in the United Arab Emirates, 90 per cent in Kuwait and 171 per cent in Iraq during the first eight-month period of the current fiscal year.
Besides, the apparel exports to China and Brazil have also increased by 10.76 per cent and 59 per cent respectively during the time.
“In the current situation, the economy of the oil exporting countries, especially the Middle East countries, is in a good shape, which helps to increase our clothing items,” said Md Mohiuddin Rubel, Director of the BGMEA.
Besides, as many as 52 factories among the top 100 eco-friendly factories on USGBC’s list are in Bangladesh and the current number of eco-friendly factories in the country under various categories including LEED Platinum, Gold and Silver is 183.
Apart from this, more than 500 factories are also in the process of receiving eco-friendly factory certification.
“The achievement is increasing Bangladesh’s reputation in the world. Hopefully, this global recognition will be prioritised in placing orders and in bargaining of merchandise price,” he said.