Bangladesh surpasses China, Vietnam and Indonesia in export growth rate

RMG Times
রবিবার, ডিসেম্বর ২৬, ২০২১
  • শেয়ার করুন

Staff Correspondent: The growth rate of RMG exports of Bangladesh to United States of America has surpassed that of China, Vietnam and Indonesia in the first 10 months of 2021.

According to US Department of Commerce, Bangladesh’s export earnings from the US increased by 27 percent during Jan-Oct period compared to last year’s corresponding period while the China’s export growth was 25 percent, Vietnam’s 14 percent and Indonesia’s 10 percent.

In fact, the Office of Textiles and Apparel (OTEXA) of the Department of Commerce shows Bangladesh, the third largest exporter of garments to the United States, earned 5.7 billion dollars from apparel export to the US market in the Jan-Oct period.

According to textile industry insiders, the Covid-19 pandemic led to a sharp decline in China’s production of readymade garments. Besides, the production has also been disrupted in Vietnam and Indonesia. As a result, garment manufacturers in Bangladesh have received additional work orders.

BGMEA First Vice-President Syed Nazrul Islam said, “After struggling for a long time since the pandemic began, the readymade garment sector started to recover. We were getting good response from buyers. However, Omicron, the new variant of Covid-19, has posed a new threat to the sector.”

“Lockdown has been imposed in many countries of Europe. As a result, outlets are now almost closed. Although we haven’t observed any effect of the new variant in export yet, we fear that a large number of orders might get cancelled if the situation gets worse.” he added.