Beximco's problems are evidence of a number of ongoing problems in the garment industry.
"The imposition of higher tariffs on Chinese goods by the Trump administration could prompt international businesses and investors to turn to Bangladesh," Ahsan Khan Chowdhury, chairman of Pran-RFL Group, said today
The USA's overall apparel imports from the world also fell by 0.33 percent to $67.04 billion during the January-October period, the data showed. China ranked first in apparel shipments to the USA, with Vietnam in second place
Bangladesh's overall exports to the European Union (EU) may fall by as much as 20 percent due to the combined impacts of the nation’s graduation from least developed country (LDC) status and the EU-Vietnam Free Trade Agreement (EVFTA), according to a study..Mohammad Abdur Razzaque, chairma
The US has assured Bangladesh of support in diversifying export products and exploring new markets to boost bilateral trade between the two countries
Bangladesh’s exports are expected to grow by 12.65 percent year-on-year to $50 billion in the current fiscal year
The central bank discovered six types of statistical wrongdoing that inflated export data, a development that led to a multibillion-dollar correction.
The government’s target of earning $110 billion from exports by the fiscal year of 2026-27 would be difficult to attain because of the persisting challenges in the global and local economies, economists and businesspeople said.
Despite the 10 percent growth in March, shipment is still 0.88 percent short of the monthly target at $5.14 billion
Garment exports to the US, the single largest export destination of Bangladesh, declined by 17.88 percent year on year in January-April period.
Bangladesh retained second position in apparel shipments to the European Union (EU) in the first two months of the current year with a 22.75 per cent share of the trade bloc’s overall garment imports, according to data from EUROSTAT.
Export earnings declined 16.52 per cent year-on-year to $3.95 billion in April as the shipment of garments, the key export item, dipped owing to a reduced purchasing capacity of consumers in the western countries amid persistently higher inflation.
Bangladesh’s plans aimed at diversifying export baskets are yet to bring about the expected results as the priority sectors are not enjoying most of the benefits promised in the Export Policy for 2021-24, according to entrepreneurs.
Earnings from merchandise export fell by 2.49 per cent year on year to $4.64 billion in March as demand from key markets in the West declined amid high inflation and a slowdown in the economies.
Exports fetched $4.63 billion in February, up 7.81 per cent year-on-year, according to the Export Promotion Bureau.
The first consignment of 500kg of Gopalbhog mangoes from Rajshahi is en route to Dhaka today to be exported to Sweden.
Nearly a fortnight after deciding to curb wheat supplies abroad, India today said it would continue to allow the export of the crop to neighbouring and vulnerable countries.
For the first time, home textile has emerged as the second largest export earning sector after garments as demand remains buoyant in major markets, particularly Europe, according to exporters. ...
India today indicated that it would not allow the food security of its South Asian neighbours to be hit by the ban imposed on exports of wheat and that the measure was a temporary one.
