In the 12 months to June 2020, Bangladesh’s garment exports fell by 18.12%.
Compared with the same period in 2019, garment exports dropped to US$34.1 billion. Bangladesh’s fiscal year is calculated from July to June.
Specifically, compared with the same period last year, knitted garments fell by 17.65% to US$16.9 billion, and woven garments fell by 18.58% to US$17.2 billion. Exports of cotton and cotton products decreased by 12.11% to US$151.1 million.
Bangladesh’s largest garment exporters are the United Kingdom, Italy, Russia, Germany, and the United States. In terms of cotton cloth exports, the United Kingdom, Myanmar, and India are the largest importing countries.
Bangladesh’s garment sector is facing challenges due to the impact of the COVID-19 epidemic.
Already This resulted in billions of dollars in lost export orders and massive unemployment.
The World Bank (WorldBasdfssdfsnk) has predicted that Bangladesh will lose more than 20% of its exchange profits, equivalent to US$4 billion.
Last month the EU pledged 334 million euros (equivalent to $371 million) to help the Bangladeshi government fight the epidemic, especially to provide cash assistance to export workers . </p
