Bangladesh’s garment exports to all its major export destinations marked significant decline during the first 6 months of the current calendar year, thanks to COVID-19!
As per reports, which cited figures compiled by the country’s apex garment makers’ body, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and data released by the Office of Textiles and Apparel (OTEXA), which is affiliated with the US Department of Commerce, Bangladesh’s apparel exports witnessed reversals in almost all its major export hubs in the first half of 2020 due to the coronavirus pandemic.
As per OTEXA data, during the January-June period of 2020, Bangladesh’s apparel export to the USA declined by almost 20 per cent to US $ 2.47 billion, which was US $ 3.07 billion in the corresponding period of 2019.
Meanwhile, the report citing data compiled by the BGMEA underlined Bangladesh’s overall apparel export to the 27-member European Union declined by 30.91 per cent to US $ 7.32 billion in January-June period of 2020.
The amount was US $ 10.59 billion in the corresponding period of last year.
It may be mentioned here that other than USA, Spain, France, Italy, Germany, UK, Netherlands and Poland are the other countries where Bangladesh shipped apparels worth more than a billion dollars annually.
However, due to COVID-19, exports to these destinations in the European Union reportedly declined ranging from 26 to 39 per cent.