Bangladesh’s overall export of apparel items to USA, witnessed a fall of around 12.10 per cent in the first 5 months of the current calendar year.
Bangladesh, in the 5 months of 2020, registered earnings of US $ 2.24 billion from RMG exports to USA as against US $ 2.55 billion, registered in the same period of 2019, marking a downfall of around US $ 309 million, according to media reports.
As per industry leaders there are many reasons – external and internal – behind this fall.
Talking to media, Senior Vice-President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) underlined that if in April, production remained almost suspended due to COVID-19, factories could not use their full capacities in May and June either, and most apparel manufacturing units are currently running at around 50-55 per cent of their respective capacities.
Further, there has been a weak demand for apparel items in US as retail outlets were shut there following the coronavirus-induced lockdown.
Meanwhile, President of apex garment makers’ body, the Bangladesh Garment Manufacturers and Exporters Union (BGMEA), Dr. Rubana Huq expressed hope that imports could increase in the coming times as lockdowns are being lifted gradually.
She said that in May, exports to US marked a massive decline of 67.65 per cent.
The BGMEA President also said that China and Vietnam were better off when compared to Bangladesh, as both the countries witnessed early outbreak of coronavirus and were able to contain the pandemic rather successfully, which helped them to make faster recoveries.