Thanks to the global economic slowdown, export of ‘Made in Bangladesh’ apparel to the USA and Germany has slowed down in July-January period of the current financial year 2022-23 even as apparel exporters underlined the garment sector experienced decreased export orders since July 2022 on account of the global economic uncertainties caused by the Russia-Ukraine war, adding further that after almost four months of downward export orders, the RMG sector started receiving increased orders from November, which started going down further from January.
This is as per media reports which citing figures from the country’s Export Promotion Bureau (EPB), underlined Bangladesh’s apparel exports to the US, which coincidentally is the largest export destination for Bangladesh, fell by 2.87 per cent to US $ 5.60 billion in the eight months of FY23 compared to what was US $ 5.77 billion in the same period of FY22 even if export of knitwear in the US market declined by 16.68 per cent to US $ 1.70 billion in the period under review.
Reports further added, apparel exports to Germany, which happens to be the second largest export destination for ‘Made in Bangladesh’ declined by 1.03 per cent to US $ 4.63 billion in July-February of FY23 from what was US $ 4.68 billion in the same period of FY22.
