Home / Knowledge / News / Apparel/Garments / Bangladesh RMG sector suffers $20mn loss in Dec'13: Survey
Bangladesh RMG sector suffers $20mn loss in Dec'13: Survey
07
Jan '14
The readymade garment (RMG) sector in Bangladesh has suffered a loss of US$ 20 million in the month of December 2013, due to shipment delay, cancellation of orders, extra-burden of air freight, price discounts, and losses due to vandalism, according to a survey, reports Dhaka Tribune.
 
The survey of more than 38 export-oriented garment factories was conducted by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) found that US$ 5.35 million worth of orders were cancelled while the companies had to dole out an additional US$ 1.56 million for air shipment of their goods.
 
The garment units surveyed had to pay an additional amount of US$ 1.87 million for failing to ship their products on time, the survey found.
 
In addition, vandalism cost US$ 2.8 million to exporters while the delay in shipments cost another US$ 9.21 million during the period.
 
The garment sector contributes about 80 percent of Bangladesh’s foreign exchange earnings, and it is a vital sector for the economy of the South Asian nation. The Bangladesh clothing sector exports goods worth US$ 22 billion annually, and employs about four million people.
 
The recent elections in Bangladesh has resulted in the ruling Awami League led by Sheikh Hasina winning 232 of the 300 Parliamentary seats, in an election that was boycotted by an 18-party opposition alliance led by Khaleda Zia’s Bangladesh Nationalist Party.
 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search