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

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

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Eric Scholler
Groz-Beckert

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Rupa Sood and Sharan Apparao
Nayaab

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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