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Wednesday, 08 September 2021 12:47

Reopening of Europe, US markets will boost Bangladesh’s summer shipments

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Reopening of stores across Europe and the US is expected to increase summer shipments of Bangladesh suppliers by 20 to 30 per cent. Suppliers usually receive more orders for the summer season than for winter, says Bakhtiar Uddin Ahmed, Chief Operating Officer, Fakir Apparels. The company exports comfortable knitwear items, the demand for which is greater than that of woven items as people are spending more time indoors.

Currently, Bangladesh is receiving more work orders than Myanmar and China due to its competitive prices. Many western buyers are relocating work orders from China to Bangladesh and Vietnam as the production costs have gone up in the world's second-largest economy. Narayanganj-based Kappa Fashion Wear has received nearly 25 per cent higher work orders from its buyers for the next season. The company ships T-shirts and polo shirts.

Faruque Hassan, President, BGMEA, says, confidence in Bangladesh had been restored as local manufacturers were able to supply items to international retailers and brands even during the pandemic. However, increasing work orders are pushing up the demand for yarn. Viyellatex Group, a major garment exporter and yarn producer, sold around 30 tonnes of yarn daily a year ago.

A 22 per cent rise in demand for knitwear products is also boosting demand for cotton-made yarn, says Mohammad Ali Khokon, President, BTMA. The industry’s earnings from garment exports have in recent months. As per data by the Export Promotion Bureau, it fetched $5.65 billion from exports in July and August.