Bangladesh Clothing Overseas Sales Show Signs Of Recovery

Overseas sales of Bangladesh clothing and other textile products showed signs of recovery, and exports in February increased by 8% over the same period last year.

However, when the first 8 months of this fiscal year cut overseas sales by 3.21%, Bangladesh was worried that it could not complete its export target for the whole year.

In the first 8 months, Bangladesh's overseas sales volume was $10 billion 20 million, compared with $10 billion 350 million a year earlier.

Industry experts say the continuous power crisis hinders the manufacturing industry from completing orders on time.

Sometimes, in order to ensure timely delivery, the production enterprises have to deliver the goods by air, and the freight rate is very high.

Members of the Bangladesh garment manufacturers and Exporters Association (BGMEA) blamed the power crisis as an important factor restricting export growth.

They say garment manufacturers do not need 24 hours to send electricity, but they need to guarantee at least 8-10 hours a day without interruption to help them maintain the established overseas sales market.

Due to insufficient supply of electricity and increased losses, plant equipment has been idle for a long time.

According to experts, overseas sales of clothing accounted for 80% of the total export revenue, but in the current fiscal year from July to February, clothing sales abroad declined, except for October.

Experts from the Bangladesh knitwear manufacturers and Exporters Association said that despite the overall growth in overseas sales in February, woven apparel and knitted products showed a downward trend this month.

Between July and February this year, the export of woven garments decreased by 5.34% to $3 billion 710 million, while the export of knitted goods decreased by 5.75% to $4 billion 20 million.