RMG exports from Bangladesh expected to bounce back

The sharp decline in readymade garments exports in April shocked all stakeholders of the Bangladeshi textile industry, however after analyzing the global situation most of them hope that the exports would bounce back in the next six months.

The optimism is based on the expectation that the major brands and retailers will clear their stocks by that time.

Moreover, the return of tourists in Europe also raises their hope because tourists tend to buy apparel while vacationing.

With stores clearing their inventories, they would be keen to replenish their stocks.

These positive vibes were expressed at the just concluded two-day-long Bangladesh Denim Expo at the International Convention City Bashundhara (ICCB) in the capital. Over 90 local and international exhibitors attended the event to display fabrics, garments, threads, machinery, finishing equipment, and accessories.

RGM exporters expect that demand will increase in all markets by September and October ahead of Christmas. Exporters also expect better sales than last year in North American markets where sales dipped by half in recent months.

Monthly exports of Bangladeshi apparel to the US market came down from .

5 million to $1 million. The exports to the EU market have started picking up as some orders shifted from Pakistan and Turkey.

Alice Tonello, research and development, and marketing director at Tonello, an Italian technology company, said the garment business is down in Europe now because of high inflation resulting from the Russia-Ukraine war.

Moreover, consumers’ buying preferences have changed a lot after the pandemic. People are now more inclined to spend on tourism and other experiences rather than on spending money on garment items. John, the representative of the Chinese textile manufacturer Zhejiang Xinlan Textile Co. Ltd, said all businesses are passing through tough times in the aftermath of the Ukraine-Russia war.



Bangladesh’s overall exports plunged for two months in a row in April with the RMG sector, the country’s export might, also witnessing negative growth. In April, exports for the RMG sector stood at $3.32 billion, which is a significant decline of 15.48% compared to April 2022.