Home / Knowledge / News / Apparel/Garments / Garment exporters on edge due to economic turmoil
Garment exporters on edge due to economic turmoil
13
Oct '08
Exporting companies and government officials fear that the financial turmoil across the globe could hamper the export prospects of the country as most of the countries to which Bangladesh exports have been hit hard by the crisis.

According to exporters, buyers in the US and EU are not providing fresh orders while others are asking for price cuts. The clothing industry which contributes more than 76 percent to all exports from Bangladesh is expected to bear the biggest brunt of the slowdown.

Fazlul Haq, President of Bangladesh's Knitwear Manufacturers and Exporters Association (BKMEA) said “60 percent of all exports are meant for the countries of the European Union, so a financial turmoil in those countries will mean severe repercussions for the country.”

According to garment exporters, the industry has shown very good growth in the last few months, but the erratic power and gas supply, increased raw material costs and finally the devaluation of the dollar has them worried.

Experts advise the government to keep a close watch on global developments and plan for any eventuality in advance as global recession may be felt across all levels. They also warn of a reduction in foreign direct investment in the coming months due to the financial crisis.

Fibre2fashion News Desk - India


Must ReadView All

Israeli minister announces tax cuts on consumer goods

Apparel/Garments | On 14th Dec 2017

Israeli minister announces tax cuts on consumer goods

The Israeli Government will slash taxes by $227 million, finance...

Courtesy: Kelvin Techstyles

Apparel/Garments | On 14th Dec 2017

Kelvin Techstyles fuses style and function in city apparel

Fusing style and function in outdoor clothing, Roseville,...

India’s WPI inflation for textiles up 0.3% in Nov 2017

Textiles | On 14th Dec 2017

India’s WPI inflation for textiles up 0.3% in Nov 2017

India’s annual rate of inflation, based on monthly wholesale price...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

December 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
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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