According to data from the Export Promotion Bureau (EPB) between July and January, the first seven months of the 2020-2021 fiscal year, the shipment of readymade garment (RMG), which usually contributes more than 80% to Bangladesh’s national export, declined 3.44 percent year-on-year to $18.40 billion.
Of the earnings from the RMG export, $9.98 billion came from the knitwear export, which was up 3.84 percent. The export of woven items dropped 10.85 percent to $8.41 billion.
The woven items export has been falling since June last year as many people have limited themselves to homes and countless worked from home because of the COVID-19 pandemic.
“The key export markets of our RMG items are struggling with the intensity of the pandemic.”
An extended stay at homes has surged up the demand for knitwear items.
According to data from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the apparel export endures to demonstrate a dismal trend, showing the worrying state in the global trade, mainly about RMG.
Besides, the newest EPB export data shows that garment export in January dropped 7.01 percent year-over-year and woven export dropped 13.89%.
In this regard, Rubana Huq, President, BGMEA, “The key export markets of our RMG items are struggling with the intensity of the pandemic.”
Exporters opined that to recover from this scenario, the stimulus package should be increased.