According to Export Promotion Bureau (EPB), Bangladesh has fallen in its apparel exports by 3.64 per cent on Y-o-Y basis in Jan.-Feb. ’20 period.
The country clocked US $ 5.82 billion export value in the said period as compared to US $ 6.04 billion in the corresponding period of 2019.
The export value of knitted products (US $ 2.69 billion) plunged by 5.19 per cent, while woven product exports (US $ 3.13 billion) fell by 2.20 per cent in first 2 months of 2020.
Particularly in January, the RMG export value of Bangladesh stood at US $ 3.04 billion with a slump of 2.98 per cent. The fall recorded for knitted products was 4.96 per cent and the same in the case of woven product was 1.19 per cent.
|Month||Bangladesh RMG Export|
|Woven||% Change||Knit||% Change||Total (Woven+Knit)||% Change|
|FY 19||FY 20||FY 19||FY 20||FY 19||FY 20|
Data Source: EPB, Bangladesh
Compiled by: BGMEA
Edited by: Apparel Resources
The export performance of Bangladesh was even more dismal in February as it tumbled by 4.28 per cent on Y-o-Y basis to ship US $ 2.78 billion worth of apparels as compared to US $ 2.91 billion worth of shipment in February ’19.
Knitted products fell by 5.45 per cent in export value during February and woven products were down by 3.27 per cent.
Markedly, in the first 8 months of its FY 2020, the country saw only two positive months: July and December. Remaining 6 months noted massive downfall; October being the worst month with 19.79 per cent plunge in export values on Y-o-Y basis.
However, the country is performing positive in some product categories such as lingerie, T-shirts, trousers, but overall fall is an impediment of long-term sustainability.