Bangladesh’s exports, especially apparel shipments to Germany, the second largest export market for ‘Made in Bangladesh’ goods, may slow down in the coming days as the German economy is at risk of shrinking this year.
Reports suggest that the German economy is at risk of shrinking nearly 2 per cent this year if the war in Ukraine escalates, and if an embargo on Russian coal, oil and gas leads to restrictions on power providers and industry.
Meanwhile, speaking to the media, Bangladesh Ambassador to Germany Md Mosharraf Hossain Bhuiyan, reportedly, underlined Bangladesh’s exports, particularly readymade garments, may slowdown if the Russia-Ukraine crisis lingers and continues unabated even as economists and business leaders have also, reportedly, opined Bangladesh’s export to Germany in the mid- and long-term, might get hit, if the Russia-Ukraine war, which began on 24 February this year continues.
