Bangladesh earned $3.24 billion from apparel shipment in July though the amount is 1.98 per cent lower than a year ago, shows data from the Export Promotion Bureau (EPB). Of the total garment shipment, knitwear exports grew by 4.30 per cent year-on-year to $1.75 billion while woven exports fell 8.43 per cent to $1.49 billion. Earnings from apparel shipment in April, May and June stood at $0.37 billion, $1.23 billion and $2.28 billion respectively.
Personal protective equipment (PPE), masks and other hospital textiles made it to the list of new export items for Bangladesh as a good number of buyers are placing work orders for these items amid the pandemic. If more retail stores reopen in Europe and the US, garment exports from Bangladesh will grow further as the pandemic has failed to dampen the demand for basic apparel items, exporters said.
Sweater factories have now put their best foot forward to meet the deadline for the shipments of August, September and October, said Mostafa Sobhan Rubel, Managing Director of Dragon Sweaters. If the current state of business continues, Abdullah Al Mahmud Mahin, Managing Director, Mahin Group expects his company's earnings this year to be 20 per cent less than last year's, but if a coronavirus vaccine arrives by mid-September, they may witness about a 15 per cent jump in profit.
Bangladesh will start to see stronger export figures from the first quarter of 2021 as more clothes are being bought online, with a massive 76 per cent rise in online sales in the US, said AK Azad, Managing Director, Ha-Meem Group. His factories are running at more than 60 per cent capacity at present.
Work orders are slowly coming back with the knitwear sector is doing better than woven products, said Azimul Islam, Managing Director, Alif Group