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Wednesday, 16 June 2021 13:03

Bangladeshs: Fall in volume compels manufacturers to accept all work orders

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Decrease in work orders from the US is compelling Bangladesh RMG manufacturers to accept all types of work orders, says Fazlul Haque, Managing Director, Plummy Fashions. He expects the spike in coronavirus infections to delay business recovery by six-seven months. Haque also expects RMG exports to decline if the COVID-19 doesn’t rapidly improve. As per Textile Focus, US apparel imports declined 25 per cent in 2020. In the first two months of 2021, imports improved slightly as COVID cases fell. Imports from Bangladesh also increased during these two months.

However, due to a new spike in infections, imports again declined. OTEXA stats show, US imported $64.07 billion (6,407 crore) of clothing products in 2020. In the first two months of 2021, US’ clothing imports declined 13.85 per cent to $10,91 billion. In the first two months of 2021, imports from Bangladesh declined to $1 billion (Rs 8,500 crore). After China and Vietnam, Bangladesh has become the third biggest exporter of clothing to the US market.

In January-February 2021, US’ imports from Vietnam declined 12.9 per cent to $2.09 billion. Over the corresponding period of 2020, Vietnam exported clothing worth $2.34 billion to the US. Imports from India and Indonesia to the US also declined during these two months. India’s imports declined 21.89 per cent to $590 million.