Apparel exports to the US market have increased by more than 60 percent.

Apparel exports to the US market have increased by more than 60 percent.

Apparel exports to the US market have increased by more than 60 percent.

Bangladesh's export of garment products to the US market has increased to 188.79 million 8 thousand dollars. 17746 crores in rupees, which is 60.30 percent as a percentage. This information is known from the sources of the Office of Textiles and Apparel (OTEXA) of the US Department of Commerce.

BGMEA director and spokesperson Mohiuddin Rubel said on Monday (August 8). According to the data, from January to June 2022, the export of Bangladeshi-made garments to the US market was worth 501.9 million 7 thousand dollars. In the same period of 2021, the exports of apparel products were worth 313 million 10 million 9 thousand dollars. Accordingly, compared to 2021, the export of clothing products increased by 188 million 79 million 8 thousand dollars in the same period of 2022. Garment industry insiders said these export orders came in May this year, when the global situation was not as volatile as it is now. But the current situation is not so good.

Regarding the current situation, BGMEA Director and Spokesperson Mohiuddin Rubel told Ittefaq that the world trade and economy is going through a terrible situation right now due to the post-coronavirus and geopolitical crisis. High fuel prices and supply shortages are negatively impacting the global situation. As we operate in the global market, our industry is also affected by this.

He said that the price of yarn has increased by 62 percent in the last one and a half years, the cost of freight transportation has increased by 50 percent, the cost of dyes and chemicals has increased by 60 percent, and the minimum wage has increased by 7.5 percent at the beginning of last year. As a result, our average production cost has increased by 40-45 percent in the last five years. Also productivity and efficiency is a major concern for us. Because the average productivity in Bangladesh is about 45 percent, in Vietnam it is 55 percent and in Turkey it is 70 percent.

In this crisis situation entrepreneurs are getting support from their respective governments which is helping them to move forward. We also want some policy support from the government. Stating that we will move forward if the government gives policy support, he said, we can overcome this difficult situation through cooperation and supportive measures as before.

Mohiuddin Rubel said, efforts are being made to overcome weaknesses such as over concentration of products and markets, absence of specialized markets, improvement of backward linkage industry etc. He also said that we are trying to stay competitive by increasing our efficiency and productivity by reducing costs.