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21 October, 2019 00:00 00 AM

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T-shirt exports fall 7pc in Q1

SHARIF AHMED, Dhaka
T-shirt exports fall 7pc in Q1

Exports of T-shirts, the most exported garment item, have declined significantly in the first quarter (July-September) of the FY 2019-20 due to depreciation of currency within the competing countries and low work order, and low price offered by buyers, said industry insiders.

According to the Export Development Bureau (EPB) statistics, exports of T-shirts witnessed 7 per cent fall in the first quarter of the FY 2019-20, compared to the same period of the previous fiscal year.

According to the EPB figures, T-shirts exported to different countries in the first quarter (July-September) of the fiscal year 2019-20 was worth USD1.34 billion. But, during the period (July-September) of the last financial year (2018-19), the export was worth USD1.45 billion.

Mohammad Hatem, second vice president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), told The Independent that T-shirts were very popular in Western countries and their demand remained almost the same throughout the year.

However, from May to August of the year, the work order for the product was somewhat low.

In the current financial year, the work order for T-shirts was lower than usual. As a result, the export of Knit Sector T-shirts has dropped due to the seasonal context, mainly due to the work order crisis.

The export of T-shirt has declined mainly due to the depreciation of the currency within the competing countries. Most of the orders of knit products have gone to Pakistan and India, said Hatem.

High-end knit products have gone to Cambodia and Vietnam because their currency depreciated against dollar, added Hatem.

Moreover, the existing buyers have lowered their purchasing price around 10 per cent during the last three months, he said.

 According to the first quarter’s export figures for the last five financial years, T-shirt exports have increased steadily over the last three financial years. But, in the current financial year, it has declined. T-shirts exported in the FY 2016-17 was worth USD1.17 billion. After that, T-shirt exports have increased in both fiscal years 2017-18 and 2018-19. In those two financial years, T-shirts exported was worth USD1.27 billion and USD1.44 billion respectively. T-shirt exports have dropped by USD1.35 billion this fiscal year, according to EPB.

It is learnt that 80 per cent of the country’s export earnings come from the garment sector. During the last four decades, the industry has gradually become the driving force of the economy.

But the basis of this driving force is mainly in five to six products. According to EPB and garment industry, garments are exported from Bangladesh mainly under two categories. One is the knit, the other is the oven. In these two categories, mainly five types of goods are exported. These are T-shirts, trousers, shirts, jackets and sweaters.

According to Export Promotion Bureau, export earnings from the RMG sector in the first three months (July-September) of the FY2019-20 fetched USD8.05 billion, decreased by 1.64 per cent to USD8.19 billion in the same period of the FY 2018-19.

Exporters have said readymade garment exports in August 2019 fell by 1.64 per cent because of Eid vacation as most of the factories remained closed for at least seven days. Moreover, some of the factories remained closed even for 12 days which influenced the export performance.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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