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Garment industry leaders in Bangladesh worried about decline

04/11/2019
Bangladesh may lose its position as the world’s second-biggest source of garments, behind China. Factory closures, falling prices and a decrease in export revenues have led the president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Rubana Huq, to suggest Vietnam could push Bangladesh into third in the course of this financial year.

In the first three months of the current fiscal year, July, August and September 2019, garment exports brought just over $8 billion into Bangladesh, a fall of 1.6% year on year. And in the last seven months, almost 60 garment factories across Bangladesh have closed down with the loss of more than 25,000 jobs. 

Rubana Huq said most of these companies were small or medium-sized and had failed to meet the compliance demands of overseas buyers and to keep up with a new wage structure.

She said she expects the sector to continue to decline in the coming months and, at the end of this fiscal year, for Bangladesh to fall behind Vietnam in the global apparel market if it cannot turn the negative trend around.


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