The export of the readymade garments (RMG) products has registered a 2.15% year-on-year negative growth in the first 21 days of December, according to the media report.
During that period, the readymade garment sector bagged $2.49 billion, lower from $2.54 billion in the same period of the last fiscal year.
Media reported citing the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
Out of the 21 days in December, the sector saw a negative growth for 13 days and a positive growth for eight days. During that time, the apparel sector enjoyed a whopping 327% year-on-year growth in a single day while it witnessed 51% negative growth in another one, according to the BGMEA data.
The BGMEA came up with the estimation based on data from the National Board of Revenue (NBR) as the Export Promotion Bureau is yet to make the official announcement in this regard.
Industry insiders said the apparel export receipts went down due to the inflation in the sector’s major export destinations, fueled by the ongoing Russia-Ukraine war.
The garment export earnings dropped suddenly in September after a long stretch of growth for the previous 13 months. Then it bounced back in October and November this year as some buyers received their deferred shipments of goods during that time.