Bangladesh’s Apparel Exports to Us Decline by 16% in January: Otexa
11 March, 2021
According to OTEXA, Bangladesh’s clothes export to the united states, the country's single major destination, registered over 16 per cent decline in January 2021 year-on-year mainly as a result of the Covid-19 pandemic.
Bangladesh fetched $ 519.37 million in January 2021 through clothes export, down from $622.82 million over the corresponding month of 2020, regarding to data of any office of Textiles and Outfits (OTEXA) - associated with the US Department of Commerce.
In the first month of 2021, Bangladesh delivered 198.66 million sq m of clothing items, whereas the export was 219.08 million sq m in January 2020.
The country fetched $5.22 billion found in 2020, that was $5.92 billion in 2019, according to data.
Industry experts and exporters attributed the indegent performance of ready-made garments (RMG) export to the united states to sluggish demand, higher COVID infection rate, transformation in sales pattern, and election-related uncertainties.
However, a number of the local exporters were even now upbeat, as they were consistently getting extra queries in the recent a few months in comparison to three to six months back.
Fazlee Shamim Ehsan, director of the Bangladesh Knitwear Makers and Exporters Association (BKMEA), said regional RMG export to almost all major places witnessed a poor growth throughout last year mainly as a result of the coronavirus outbreak, and the united states market had not been an exception.
The pandemic also squeezed the demand, followed by the shutdown of retail shops amid lockdown in America, he explained.
The virus outbreak also changed the sales pattern that led to positioning small quantity orders instead of bulk ones.
Source: www.fashionatingworld.com