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Bangladesh RMG exports decline by 62%

According to the National Board of Revenue provisional data compiled by the Bangladesh Garment Manufacturers and Exporters Association, RMG export by the country in the 29 days of May this year declined by 62.09 per cent to $1.07 billion from $2.81 billion in the same period of 2019.

RMG export in March-May of 2020 might fell to $5 billion, with possible unsettled liability of $2 billion for the country’s clothing sector.

According to the data, the country’s RMG export in April this year declined by 85.25 per cent to $374.67 million from $2.54 billion in the same month of 2019 due to shrinking demand for goods and suspension of production in the country due to the coronavirus outbreak.

RMG exports in March this year, when the coronavirus was first detected in the country, declined by 30.19 per cent to $1.97 billion from $2.82 billion in the same month of the last year.

Although the production has started in the country since April 26, factories have been running with limited number of workers due to health concerns and fall in demand in the all export markets.

All export markets experienced fall between 8 per cent and 22 per cent and unit value decreased by 0.90 per cent from the US and 1.87 per cent from the European Union during the pandemic.

 
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