Apparel exports from Bangladesh to the European Union (EU) market saw a notable increase of 8.5% month-on-month in February, totaling around €1.3 billion, marking the highest figure in the last four months. However, compared to the same period last year, shipments to the EU were down by 18.6%. Bangladesh experienced a significant decline in apparel exports to EU countries in the first two months of 2024, aligning with a similar trend observed in the United States market. SM Mannan Kochi, president of BGMEA, cited challenges in apparel exports due to buyers not paying adequate prices, leading to decreased competitiveness despite rising production costs.
Concerns were also raised about the potential impact of tensions between Iran and Israel on exporters in the upcoming months. Mohammad Hatem, executive president of BKMEA, expressed similar concerns, noting increased inquiries from western buyers but difficulties in fulfilling orders due to low prices offered by buyers.
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