Following a prolonged spell of growth of around 14 months, Bangladesh’s apparel export has slowed down after the country registered export decline to the tune of US $ 1.72 billion in the first 18 days of September (12 per cent year-on-year fall) amidst apprehensions apparel export is likely to witness negative growth in September.
Media reports maintained this citing data from the concerned authorities.
As per day-to-day export data, apparel export declined to US $ 1.72 billion in the first 18 days of September, fetching a negative growth of 12.36 per cent, from the same period of the last fiscal year 2021-22 when the apparel manufacturers had earned US $ 1.97 billion.
Meanwhile, speaking to the media, BGMEA President Faruque Hassan, reportedly, said due to high inflation and increased bank interest rates in export destinations (countries), a number of buyers are going slow in terms of placing new orders over the last two months even if some of them are also asking to hold shipments as a result of which apparel shipments took a hit.
Reports also added due to reduced consumer demand, a number of retailers have already cancelled some orders even if some buyers are requesting exporters to delay shipments or suspend orders.
