He demanded uninterrupted gas and electricity supply for the export-oriented industry for the sake of maintaining foreign reserve and employment. The BGMEA president said that the ongoing crisis of gas and electricity pushed up the production cost as manufacturers were trying to continue their production through diesel-run generators.įaruque said that factory owners were forced to negotiate orders with lower prices to pay workers’ wages as the flow of orders had decreased in recent months. ‘I think the export earnings will also register a negative growth in November and under the circumstances it will not possible to achieve the apparel export target for the current financial year due to the energy crisis, decline in work orders and high inflation in the major markets,’ the BGMEA president said.Įxport earnings from the RMG in FY 2021-22 stood at $42.61 billion, 21.25 per cent higher than the government-set target of $35.14 billion, according to Export Promotion Bureau data. ‘Unfortunately, the gas and electricity crisis has created scope for the global buyers for thinking beyond Bangladesh,’ the BGMEA president said.įaruque said that the RMG exports in October might register nearly 20 per cent negative growth compared with that of the same month in the past year. He said that demand for apparel decreased in the major markets, the European Union and the United States, due to high inflation and at the same time capacity remained unutilised in the RMG factories in Bangladesh due to a shortage of gas and electricity. ‘Export earnings target from the RMG for the current financial year will not be achieved as global buyers are placing decreased volume of orders due to inflation,’ BGMEA president Faruque Hassan said at a press conference held at the trade body’s headquarters at Uttara in the capital Dhaka. SUNAMGANJ HAOR EMBANKMENT PROJECTS 40pc works still to be done as deadline missed.New, outlying district public univs failing to woo students.Not for anyone to walk dully along, and away.Foreigners working illegally go unchecked.Follies in following in the footstep of Hindi.Indian media report warrants no response: foreign ministry.Quota-system of job distribution needs to be reformed.Government must protect civilians in frontiers.So while we need to be optimistic about our trade and industry, we need to make cautious steps". Both global trade and economic growth forecasts by a recent report by the World Bank depicts depressive picture. Inflation in EU and USA has crossed records. However, the growth figures in recent months cannot be misjudged and over generalized as the advanced economies are clearly heading toward economic recession. Other countries with significant growth were Chile 124.33%, Mexico 77.29%, Turkey 57%, South Korea 31.16%, and UAE 25.05%. On the other hand, export to China has declined by 18.64%, and reached US$ 199.60 million. Our export to India also increased significantly by 66.36%, which is US$ 647.27 million. Among the non-traditional markets, export to Japan reached US$ 999.97 million dollars with 15.27% growth. and Canada reached US$ 4.09 billion and US$ 1.18 billion, with 29.16 % and 32.72% growth respectively.ĭuring the first eleven months of FY 2021-22, our apparel export to non-traditional markets grew by 24.54% to US$ 5.79 billion from US$ 4.65billion in the corresponding period of previous year. Other countries in EU region having high growth were Slovenia 66%, Greece 62 %, Hungary 61.26%, Poland 46.78% and Romania 46.39%. Export to Spain and France showed 37.83% and 34.93% growth respectively. Particularly, as per BGMEA, our export to Germany grew by about 27% with an amount of US$ 6.51 billion during the mentioned time. Export to almost all the EU markets including Germany, Spain, France, Poland, and Italy showed positive growth during this period. As per official BGMEA report," During July-May, 2021-22 our RMG export to the European Union reached US$ 19.30 billion, with 33.06% growth compared to the same period of previous fiscal year.
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