Bangladesh's exports rose 27% to $4.78 billion in November compared with October as demand for apparel increased in Western markets ahead of the festive season.
This figure was down 6.05% year over year.
Clothing exports were valued at $4.05 billion in November, 28% higher than October's $3.16 billion.
Bangladesh's exports rose 27% to $4.78 billion in November this year from October as demand for apparel in Western markets increased in anticipation of the festive season. This figure was down 6.05% year over year.
According to the latest data released by the Export Promotion Bureau (EPB), apparel exports were valued at $4.05 billion in November, 28% higher than October's $3.16 billion. Central bank data showed remittance inflows fell 2.4% in November from the previous month.
A domestic newspaper quoted Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), as saying that the reason why the garment industry's export revenue this year was lower than the same period last year was due to the slowdown in global garment demand and unit prices. The decline and worker unrest in November led to production disruptions.
The trend of export growth is expected to continue in the coming months as the peak sales season in Europe and the Americas will continue until the end of January.
Overall export earnings were $3.76 billion in October, a 26-month low. Mohammad Hatem, executive chairman of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), hopes that if the political situation does not worsen, businesses will see a positive development trend next year.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has called for further speeding up customs procedures, especially speeding up the clearance of import and export goods, to improve the competitiveness of the ready-made garment industry.
Post time: Dec-08-2023