RMG exports set new record in 2021

In spite of the coronavirus pandemic and consequent lockdown, Bangladesh has set a new record in apparel export in the just-gone 2021 calendar year.

According to an official of the Export Promotion Bureau, the country shipped garments worth $3.8 billion in December and took the annual export figure to $35.57 billion, which was $2.5 billion higher from the previous record of $33.07 billion in 2019.

EPB data shows in 2017 the country’s readymade garments fetched $29.21 billion, $32.92 billion in 2018, and $27.47 billion in 2020.

“After a long global lockdown, when the ports were relaxed in August, our exports gained momentum. Besides, demand for products and their prices have also been increased” said Shahidullah Azim, vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

“Fortunately, we were able to ship the export products of two peak seasons - Christmas and winter - before imposition of new restrictions by the western countries because of Covid-19 new variant Omicron. That is why our exports have made a record in 2021,” Azim told the Business Insider Bangladesh.

Because of lockdown in the competing countries and other geopolitical reasons, Bangladesh received piles of orders in the last several months, he remarked.

“Yes, we got huge orders and consequently shipped them back. Our buyers were also slightly flexible in hiking the unit price, so there has been a satisfaction on our part,” said Mohammad Hatem, working president of Bangladesh Knitwear Manufacturers and Exporters Association (BGMEA). 

Currently, the ready to wear industry exports only five informal clothing made of cotton fibre trousers, T-shirts, skirts, blouses, innerwear and sweaters.