According to Bangladesh’s central bank, Bangladesh Bank, value addition in Bangladesh’s readymade garment products in financial year 2021-22, dropped to a record low of 54.37 per cent.
According to the garment makers, this is all due to the spiralling cost of raw materials.
“The skyrocketing raw-material prices have eaten up our value addition,” reportedly, underlined former President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Fazlul Hoque, who claimed prices of raw materials had significantly gone up during the last two years while adding even though exporters received huge volume of work orders, especially after the lockdown in major markets, prices of finished products didn’t increase in line with the high prices of raw materials.
Echoing the same, BGMEA Director Mahmud Hasan Khan while speaking to the media, reportedly, maintained the CM remained almost ‘unchanged’ compared to raw materials’ price hike.