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Apparel export declines by 1.2% to $5.64 bn in July-Aug

Apparel export earnings during the July-August FY 2021-22 period declined by 1.2 percent to $5.64 billion year-on-year compared to that in the same period a year ago. Of the total apparel export earnings, $3.25 billion came from the knitwear segment, witnessing a 4.63 percent year-on-year growth.

According to the recently released data by the Export Promotion Bureau (EPB).

Meanwhile, the EPB data also showed that woven export earnings dropped by 8.33% year-on-year to $2.38 billion. Industry leaders opined that the global lower demand for formal dresses amidst the COVID-19 pandemic lockdown is the main cause.

Exporters said the shipment of knitwear fared better than that of woven because demand for the former increased worldwide due to longer stays of people at home for the pandemic.

Readymade-garment (RMG) experts said that woven export was passing a hard time but performed better compared with that last year. The downtrend of woven exports will last for the next two or three months as still, consumers are favoring casual dresses at homes and offices.

In recent months, air and seaport delays are causing a big worry for the RMG exporters.

Compared to other airports worldwide, the Hazrat Shahjalal International Airport takes more time to export goods through this vital airport.

Likewise, the Chattogram seaport was still performing poorly. Hampering the apparel export lead time.

However, the high yarn prices in the local market is damagingly affecting the RMG industry despite the surprising rise in work orders.

Several leaders said that spinners should not rise the yarn price rate from the $4.20 per kilogram promised last week.

Specialized textiles export earnings increased by 18.23% to $22.7 million in the July-August FY 2021-22 period. Among which, terry towel earned $6.29 million. Special woven fabric earned $3.91 million. Knitted fabrics earned $10.98 million.

During the July-August FY 2021-22 period, Home textile export earnings grew by 4.18% to $ 175.06 million.

During the July-August period, earnings from leather and leather goods by 13% to $174.71 million said the data.

However, jute and jute goods export declined by 35 percent to $127.67 million, said the data.

If anyone has any feedback or input regarding the published news, please contact: info@textiletoday.com.bd

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