Achieving export target now a distant dream: RMG makers
Sunday, 7 June 2009
Mashiur Rahaman
The possibilities of achieving apparel export target in US market seem bleak, as export growth faced an abrupt shortfall in the first four months of the year, according to sector leaders.
"We set a target to achieve at least a yearly 20 per cent growth on the basis of prior business experience. But it appears a distant dream this year," president of Bangladesh Knitwear Manufacturers & Exporters Association (BKMEA) Md Fazlul Hoque said.
Knitwear exports in US in the first four months of current calendar year witnessed only 6.77 per cent growth against the corresponding period last year. On the other hand, a total of 24.27 per cent growth was witnessed in the first four months of 2008 against the corresponding period of 2007, he added.
"How could we even dream of reaching the target under the circumstances?" He questioned.
Echoing BKMEA president, Abdus Salam Murshedy the head of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) termed it obvious and blamed the ongoing global financial recession behind the slowdown.
"Over 6 million American had lost their jobs because of the recession. Their waning buying capacity would obviously affect our export," Abdus Salam Murshedy said.
According to him, export of woven product in US during the first four months of current calendar year witnessed 8.66 per cent growth against the corresponding period last year. On the other hand, a total of 21.96 per cent growth was witnessed in the first four months of 2008 against the corresponding period of 2007.
"Similar export situation was also witnessed in most other markets for our apparel products, which is alarming," the head of BGMEA added.
Leaders of both the garment manufacturers' associations forecast a worst scenario ahead
The possibilities of achieving apparel export target in US market seem bleak, as export growth faced an abrupt shortfall in the first four months of the year, according to sector leaders.
"We set a target to achieve at least a yearly 20 per cent growth on the basis of prior business experience. But it appears a distant dream this year," president of Bangladesh Knitwear Manufacturers & Exporters Association (BKMEA) Md Fazlul Hoque said.
Knitwear exports in US in the first four months of current calendar year witnessed only 6.77 per cent growth against the corresponding period last year. On the other hand, a total of 24.27 per cent growth was witnessed in the first four months of 2008 against the corresponding period of 2007, he added.
"How could we even dream of reaching the target under the circumstances?" He questioned.
Echoing BKMEA president, Abdus Salam Murshedy the head of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) termed it obvious and blamed the ongoing global financial recession behind the slowdown.
"Over 6 million American had lost their jobs because of the recession. Their waning buying capacity would obviously affect our export," Abdus Salam Murshedy said.
According to him, export of woven product in US during the first four months of current calendar year witnessed 8.66 per cent growth against the corresponding period last year. On the other hand, a total of 21.96 per cent growth was witnessed in the first four months of 2008 against the corresponding period of 2007.
"Similar export situation was also witnessed in most other markets for our apparel products, which is alarming," the head of BGMEA added.
Leaders of both the garment manufacturers' associations forecast a worst scenario ahead