Why rise in COVID-19 cases did not affect Bangladesh's RMG sector?

06 Jul '21

2 min read

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Despite a sudden rise in COVID-19 cases in Bangladesh in the second quarter of 2021, the country is expected to witness a moderate rise in RMG exports in the second half of this year. The rise in cases did not affect the sector as the government of Bangladesh allowed RMG manufacturers to continue their operations even during the lockdown in April 2021.

Also, the country will see a rise in exports as world economies slowly recover from the impact of the pandemic.

In marketing year (MY) 2020-21 (July to June), Bangladesh’s RMG exports showed a decent surge as the government supported the industry which contributes significantly to the nation’s economy.

Woven RMG exports of Bangladesh went from $14.04 billion in MY 2019-20 to $14.40 billion in MY 2020-21, recording a rise of 2.56 per cent. They are expected to rise further by 8.35 per cent to a monthly average of $1.30 billion in the first half of MY 2021-22 over the monthly average of $1.20 billion in MY 2020-21, according to Fibre2Fashion’s market analysis tool TexPro.

Knit RMG exports of Bangladesh were $13.91 billion with a monthly average of $1.16 billion in MY 2019-20, which increased substantially by 20.50 per cent to $16.76 billion in MY 2020-21. They are anticipated to shoot up by 11.06 per cent to a monthly average of $1.55 billion in the first half MY 2021-22 over the monthly average of $1.40 billion in MY 2020-21.

Fibre2Fashion News Desk (KD)

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