|
|
|
home > Events
Where Bangladesh's apparel exports to flow?
Bangladesh's apparel exports shrank month-on-month and began to recover gradually, but it was still shrinking year-on-year. Although Bangladesh's apparel exports are still shrinking, the month-on-month recovery shows a good sign. HS code 50-63 export data hereinafter refers to textile and apparel exports, and HS code 61-62 refers to apparel exports.
EU and US are the major textile and apparel export markets
Bangladesh's textile and apparel export value reached 2.42 billion USD in Jun, up 83.4% month-on-month but down 3.8% year-on-year. Bangladesh's textile and apparel export recovered obviously in May-Jun.
In terms of market share in May-Jun, US is the largest, followed by Germany, Britain, Spain and France.
Bangladesh's textile and apparel exports still fell sharply year-on-year in May, and exports to major markets moved down over 50%. In June, the exports had ups and downs. Those to US, Germany, France, Japan, Canada and Denmark increased, especially the export to Japan. Other markets were still shrinking, with the decline rates of Britain, Spain, the Netherlands and India in double-digit. From the MoM change, Bangladesh's textile and apparel exports improved significantly in May, not least because of the epidemic. From Mar-Apr, the epidemic spread and the lockdown measures continued, Bangladesh implemented the blockade from Mar 26 to Apr 4, and then extended the blockade again which gradually eased after late-April. Therefore, the production and sales of Bangladesh's textile and apparel were greatly impacted, so did exports. Orders cancelled or postponed after he easing lockdown measures across the globe in May were fulfilled gradually, which made obvious MoM growth. In June, with the gradual recovery of the economy, exports further improved.
Bangladesh apparel exports accounted for more than 90% of the total
Bangladesh apparel exports accounted for 92% of the total in Jun.
Bangladesh's major apparel export markets are EU, US and Japan, which coincided with China's apparel export markets. Bangladesh is also a strong competitor of China's apparel export market in recent years. However, Bangladesh lacks textile feedstock, so textile feedstock import mainly depends on overseas market, while China is its main country of origin. Therefore, with the gradual recovery of Bangladesh’ apparel exports, China's textile feedstock and semi-finished products in the midstream and upstream markets are expected to gradually recover. However, the recovery is uncertain, and the epidemic is still grim around the world. Before the success of vaccine development, market confidence is difficult to recover to the previous level.
For the details of Bangladesh's apparel exports, please see the previous article: Bangladesh's apparel export gradually recovered in Jun
|
|
