Senior Staff Reporter of The Daily Star.
The country’s merchandise exports increased by 5.7 percent year-on-year in January, driven by higher shipments of Bangladesh’s key export item, readymade garments.
However, China will be the most affected under Trump since he said there would be an additional 10 percent duty for goods coming from the Asian giant.
Bangladesh imported more yarn in 2024 than in the previous year, with the lion’s share of the key raw material for readymade garments (RMG) coming from India.
Tens of thousands of workers and officials have lost their jobs over the last six months following the closure of dozens of mills and factories mainly because of the owners’ political affiliations.
Bangladesh is likely to face more hurdles in the race to grab a bigger share of the global apparel market as the Indian government plans to step up its financial assistance to garment exporters.
Bangladesh’s garment shipments to the USA, the South Asian country’s single largest export destination, have been falling over the past two years due to a market correction although other major countries have already adjusted to the scenario.
A state advisory council yesterday remained undecided on whether to sell 16 textile and garment factories of Beximco Group, citing that further scrutiny of bank statements was required.
The 40,000 laid-off workers and officials of the 16 textile and garment units of Beximco Group want the factories to remain operational so that they can be reinstated.
The country’s merchandise exports increased by 5.7 percent year-on-year in January, driven by higher shipments of Bangladesh’s key export item, readymade garments.
However, China will be the most affected under Trump since he said there would be an additional 10 percent duty for goods coming from the Asian giant.
Bangladesh imported more yarn in 2024 than in the previous year, with the lion’s share of the key raw material for readymade garments (RMG) coming from India.
Tens of thousands of workers and officials have lost their jobs over the last six months following the closure of dozens of mills and factories mainly because of the owners’ political affiliations.
Bangladesh is likely to face more hurdles in the race to grab a bigger share of the global apparel market as the Indian government plans to step up its financial assistance to garment exporters.
Bangladesh’s garment shipments to the USA, the South Asian country’s single largest export destination, have been falling over the past two years due to a market correction although other major countries have already adjusted to the scenario.
A state advisory council yesterday remained undecided on whether to sell 16 textile and garment factories of Beximco Group, citing that further scrutiny of bank statements was required.
The 40,000 laid-off workers and officials of the 16 textile and garment units of Beximco Group want the factories to remain operational so that they can be reinstated.
US President-elect Donald Trump’s trade policies towards China and Mexico could ultimately benefit Bangladesh, according to local apparel exporters.
Labour union leaders yesterday suggested that the government amend the labour law, easing the condition of a 20 percent workers’ participation threshold to only 20 workers to facilitate freedom of association.