In the first 27 days of July, Bangladesh’s apparel exports have raked in around US $ 2.78 billion, registering about 14 per cent year-on-year (Y-o-Y) growth even if the industry is bracing for around 30 per cent work order shortage in the months to come.
Reports claimed this citing BGMEA, which reached at the calculation based on the data of the country’s Export Promotion Bureau (EPB), which was yet to make an official announcement to this end.
As per BGMEA sources, the apparel sector enjoyed a whopping 1,128 per cent Y-o-Y growth in a single day during the period, while at the same time it witnessed zero export on 10 July.
However, considering the Bangladesh’s major export destinations of United States and EU are now facing a 40-year-high inflation, industry people are, reportedly, apprehensive if the global economy does not recover soon, Bangladesh’s apparel exports may fail to achieve the last fiscal year’s record receipts amounting to US $ 42.2 billion even if the Government has set a target to earn US $ 46 billion through apparel exports in the current fiscal year.
