Bangladesh’s main export sector is the garment industry. After struggling for a few months because of the Corona crisis, the industry is ready now to bounce back. The government is giving financial aid to garment workers. Workers are now working on health care and the factory’s production is growing more than before.
The suspended and the canceled purchase is also coming back a few months ago. As a result, the export revenue of textile products is also increasing. Which indicates the sector’s non-stop push.
The BGMEA, the clothing industry owners’ association, says the country’s exports of garments were hit by the devastating shock of the Corona in March. Buyers lost interest in buying clothes from Bangladesh. They closed a new purchase. Even the previous purchase was suspended and canceled. Therefore, the country’s export income in March saw a drought in the production and income production of the garment industry.
But in the last four months, the Bangladesh garment industry has been slowly rising its export income. According to data from the Bangladesh Export Development Bureau (EPB), exports of garments made from Bangladesh have declined by 20.14% in March this year, compared to the same period last year. Then, in April, it was down 85.25 percent. And in May, it was down 62 percent. Exports continued to be in the same state in June. But its negative growth rate is lower than before. That means only 11.43 percent.
Dr. Rubana Haque, President of Bangladesh Garment Manufacturer and Exporter’s Association (BGMEA), said, “Our garment exports have been falling freely since March this year. We expected the situation to be relatively good in June. It’s done. The rate of decline has come down.’’
Related link: https://bit.ly/3imVqZe
