Garment exports suffer biggest fall in nine months
With our recent update last week on RMG sector’s positive
steps, this week we notice less than satisfactory improvements in highlights. It
seems political mood swings were to blame, where firms failed to secure enough
order placements during the usual time between December and March, coinciding
with last season’s political roller coaster.
Garment exports fell by 12.78% for the monthly target of
July, with a year-on-year decline of 11.96%. RMG also scored subpar on the
yearly target, earning $25.5 bn when the crosshair was on $26.9 bn. This was a
mere 4% fiscal year growth.
Overall export targets also looked dim, year-on-year displaying
around 12% decline, also missing the monthly targets. The BGMEA president admitted
exporters must bump up their market, to overturn this trend for the recent
months. To revive our biggest export sector, it must rebound ardently to
operate at its optimum.
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