Exports of knitwear are increasing/ woven garments are declining - Ronju Tech BD

Exports of knitwear are increasing, Woven garments are declining

Oven garments worth 1,404 crore dollars were exported in the outgoing fiscal year ending last June. Net garment exports amounted to 1390 crore dollars. Besides, the events of the first four months of the current financial year are completely opposite. Net garment exports stood at 580 crore dollars, compared to 464 crore dollars in oven garments.

Although the export of oven and knitwear has been close for several years, the coronavirus has turned the tide. Net is moving ahead of Owen in the post-Corona export market.

What is the reason?

Entrepreneurs in the garment industry say lockdowns were imposed across the country during the first wave of corona infections. Schools, colleges, offices, courts, travel are closed. As a result, the demand for outdoor clothing is greatly reduced. Foreign buyers also reduce the purchase order as there is no sale. On the other hand, as the demand for home-made knitwear increases, so does the export.

A top official of a world-renowned brand in Bangladesh told Prothom Alo that the demand for home-made clothes has increased due to the lockdown in Corona. Clothing like formal shirts, pants and blazers are not selling very well now. Because, the price of oven clothes is more than net clothes.

According to the Export Promotion Bureau (EPB), in the first four months of the current fiscal year 2020-21, ie July-October, the export of woven garments was 464 crore dollars, which is 7.76 percent less than the same period last year. Net clothing exports during the period under review stood at 580 crore dollars, up 4.76 percent from the same period last year.

Due to the winter season in Europe-America, the export of net garments is usually a bit higher in the second half of the year. As a result, in July-October of the last financial year, the export of knitwear was more than 50 crore dollars more than that of Owen.

However, according to the EPB, it has more than doubled in the current financial year. In the last four months, net garment exports were more than 116 crore dollars more than ovens.
 
Due to the corona's effect, the purchase order was canceled and the factory was closed. Only 52 crore dollar worth of goods were exported that month. The following month it increased to 123 crore dollar. In June, exports turned around a lot. Garments worth 224 crore dollars were exported that month. In the last financial year, the export of garments was 2,794 crore dollars, which is 18 percent less than the previous year.

Meanwhile, garments worth 1045 crore dollars have been exported in the last four months. 1.20 percent less than the same period last year. A second wave of corona infections is sweeping Europe and the United States as exports begin to turn around. As a result, many countries are heading for a new lockdown.
 
According to the EPB, in the last four months, the European Union (EU) has exported net garments worth 408 million. This income is 3.84 percent more than the same period last year. However, net exports to the United States have increased more than the EU. In the last four months, President Trump's country has exported 67 crore dollar worth of net garments, up 28 percent from the same period last year. In addition, net exports to Canada have increased by 6.75 percent.

There are two reasons why net garment exports are good. First, our net garment exports are higher in major European markets. Second, many brands and consumer organizations have chosen Bangladesh to produce knitwear in a fast time. Bangladesh is ahead of Vietnam and Cambodia in the net backward industry.

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