Slowdown in Bangladesh’s apparel exports, 12% gain in April
File photo of Chittagong Port Authority, the managing body of Chattogram port - the prime shipping point of Bangladesh.
Bangladesh’s apparel exports saw a comparative slowdown, gaining over 12 per cent during the July-April 2019 period for what manufacturers say business conditions.
According to latest data of Bangladesh Export Promotion Bureau published on May 9, 2019, July-April 2019 period saw exports of US $28.4 billion – a gain of nearly 12.6 per cent on a year-to-year basis. Last year same period saw exports of US $25.3 billion.
For the month of April alone, the exports receipt amounted to US $2.54 billion. Last month, the receipt was US $2.82 billion. Back in February this was US $2.9 billion followed by US $2.4 billion in January, the month of labour unrest, and US $2.9 billion in December.
Referring to the falling business, Mohammed Nasir, a director of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), told Bangladesh Apparel News: “This is the usual pattern of business, sometimes there is high, then there is low.”
EXPORTS IN DETAILS
Further analysis into the data by Bangladesh Apparel News shows, knitwear registered a receipt of US $1.24 billion for the month of April. During the July-April period, the total receipt stood at US $14 billion with a gain factor of 12.3 per cent.
In March, knitwear marked a receipt of US $1.31billion. This sum was over US $1.35 billion in February, US $1.5 billion in January and US $1.3 billion in December.
Woven segment, on the other hand, witnessed a receipt of US $1.25 billion, almost equal to that of what the knitwear segment fetched, in April. During the July-April period, the total receipt stood at US $14.4 billion, with a gain of 12.8 per cent.
In March, export receipt in this segment stood over US $1.5 billion. This value was US $1.55 billion in February, and US $1.6 billion in both January and December.
The total export receipt of Bangladesh stood at US $3.03 billion in April. The figure was a marginal gain of 2.6 per cent in comparison to April 2018. However, it fell short of the strategic export target of US $3.08 billion by 1.5 per cent.
Apparel exports accounted for over 82 per cent of the exports in April 2019.
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