Thanks mainly to increase in prices of raw materials in global market, value addition in apparel products manufactured by Bangladesh has dropped to a record low of 55.80 per cent in the July-December period of the current financial year 2021-22.
Media reports maintained this citing data from the country’s central bank.
As per the data of Bangladesh Bank, value addition in apparel items in first half of FY21 was 63.37 per cent even as it underlined value addition in FY20 decreased to 56.84 per cent from 64.32 per cent in FY19 while adding value addition in Bangladesh’s apparel products had started declining since the financial year 2019-20.
The Bangladesh Bank data further maintained value addition in RMG products in FY21 slightly increased to 59 per cent even if it showed a downward trend in the first half of FY22.
Meanwhile, speaking to the media, garment manufacturers maintained value addition in apparels decreased since FY20, due to the global outbreak of COVID-19, which led to the supply chain disruption and increase in raw materials prices.
