RMG exports to US top $5b in six months

[Black_cats]

RMG exports to US top $5b in six months​

Staff Correspondent | Published: 22:01, Aug 07,2022

RMG exports to US top $5b in six months

Bangladesh’s apparel exports to the United States have continued witnessing a significant growth in recent months and the earnings in the first half (January-June) of...

www.newagebd.net

https://bgd1.purplepatch.online/rtb...AsGU5laBnvpgmCWW+a2oh0sEvsdxXld4KVwKc5k1F82s=

A file photo shows workers sewing clothes at a garment factory on the outskirts of Dhaka. — New Age photo

Bangladesh’s apparel exports to the United States have continued witnessing a significant growth in recent months and the earnings in the first half (January-June) of 2022 topped $5 billion.

The import of readymade garments by the US from Bangladesh in January-June of 2022 stood at $5.02 billion, which is 60.30 per cent or $1.89 billion higher than the import of $3.13 billion in the same period of 2021, according to the latest US Department of Commerce’s Office of Textiles and Apparel data.

The data showed that Bangladesh’s single-month apparel export earnings from the US in June grew by 66.20 per cent or $360.85 million to $906.06 million from $545.21 million in the same month of the previous year.

In terms of volume, the apparel exports to the US, the largest export destination for Bangladesh, in the six months of 2022 grew by 44.17 per cent or 529 million square metres to 1,760 million square metres from 1,221 million square metres in the same period of 2021, the data showed.

In June 2022, the apparel exports to the US from Bangladesh increased by 46.5 per cent or 89.72 million square metres to 282.494 million square metres from 192.77 million square metres in the same month of 2021.

The OTEXA data showed that the total US imports of RMG from the world in January-June of 2022 increased by 40.14 per cent to $49.58 billion compared with that of $35.37 billion in the same period of the previous year. The data showed that Bangladesh was the third-largest apparel exporters in the US market with China and Vietnam occupying the first and the second highest positions respectively in the market.

The US apparel imports from China in the first half of 2022 grew by 40.15 per cent to $10.25 billion from $7.31 billion in the same period of 2021.

RMG imports by the US from Vietnam in January-June of 2022 increased by $35.03 per cent to $9.19 billion from $6.81 billion in the same period of the past year.

India’s RMG exports to the US market in the January-June of 2022 grew by 57.27 per cent to $3.2 billion from $2.03 billion in the same period of the previous year.

RMG imports by the US from Indonesia in the first half of 2022 increased by 60.27 per cent to $3 billion while the imports from Cambodia grew by 52.52 per cent to $2.16 billion in the same period, the data showed.

 

[mb444]

RMG exports to US top $5b in six months​

Staff Correspondent | Published: 22:01, Aug 07,2022

RMG exports to US top $5b in six months

Bangladesh’s apparel exports to the United States have continued witnessing a significant growth in recent months and the earnings in the first half (January-June) of...

www.newagebd.net

View attachment 868747

https://bgd1.purplepatch.online/rtb/clicks?n=58NgA+chL6K1jK/nDbFS9p9G1vwdiAZjTfdQpTOvtnygSPImzhTcQcSf0fS+Aa1Z7pTW11qUWoWNEtT9vvKkyc8Q90zb+ery14Ubq8pUrI1uDVMybHFdynRVKLFFvJSuNEcrdhzLB4z6sJfJ1PoaxfjL1SBcuBJNCj9DG/FPzLY3r5PrCJ8R5ZouboEQ0peKLzyHpXZ5YlVHsH1jV9aTmjCKcc2zF/tfks4gdtx3UKNAAiVe8Jf881vFNwjuR+f4xTJAsGU5laBnvpgmCWW+a2oh0sEvsdxXld4KVwKc5k1F82s=

A file photo shows workers sewing clothes at a garment factory on the outskirts of Dhaka. — New Age photo

Bangladesh’s apparel exports to the United States have continued witnessing a significant growth in recent months and the earnings in the first half (January-June) of 2022 topped $5 billion.

The import of readymade garments by the US from Bangladesh in January-June of 2022 stood at $5.02 billion, which is 60.30 per cent or $1.89 billion higher than the import of $3.13 billion in the same period of 2021, according to the latest US Department of Commerce’s Office of Textiles and Apparel data.

The data showed that Bangladesh’s single-month apparel export earnings from the US in June grew by 66.20 per cent or $360.85 million to $906.06 million from $545.21 million in the same month of the previous year.

In terms of volume, the apparel exports to the US, the largest export destination for Bangladesh, in the six months of 2022 grew by 44.17 per cent or 529 million square metres to 1,760 million square metres from 1,221 million square metres in the same period of 2021, the data showed.

In June 2022, the apparel exports to the US from Bangladesh increased by 46.5 per cent or 89.72 million square metres to 282.494 million square metres from 192.77 million square metres in the same month of 2021.

The OTEXA data showed that the total US imports of RMG from the world in January-June of 2022 increased by 40.14 per cent to $49.58 billion compared with that of $35.37 billion in the same period of the previous year. The data showed that Bangladesh was the third-largest apparel exporters in the US market with China and Vietnam occupying the first and the second highest positions respectively in the market.

The US apparel imports from China in the first half of 2022 grew by 40.15 per cent to $10.25 billion from $7.31 billion in the same period of 2021.

RMG imports by the US from Vietnam in January-June of 2022 increased by $35.03 per cent to $9.19 billion from $6.81 billion in the same period of the past year.

India’s RMG exports to the US market in the January-June of 2022 grew by 57.27 per cent to $3.2 billion from $2.03 billion in the same period of the previous year.

RMG imports by the US from Indonesia in the first half of 2022 increased by 60.27 per cent to $3 billion while the imports from Cambodia grew by 52.52 per cent to $2.16 billion in the same period, the data showed.

Great news and our export growth is happening without any kind of preferential treatment.

BD should allow unionisation in the RMG sector and sign an FTA with US and propel export even further.

 

[Bilal9]

Great news and our export growth is happening without any kind of preferential treatment.

BD should allow unionisation in the RMG sector and sign an FTA with US and propel export even further.

Unionization is something that may not happen. Bangladesh is not keen to allow it, especially in the export zones, which is why they attract FDI from ASEAN countries and China.

In fact unionization and red-tape is what held India back in this sector.

Post-LDC status, FTA should be must. Vietnam is benefiting because of their FTAs with EU a lot.

 

[mb444]

Unionization is something that may not happen. Bangladesh is not keen to allow it, especially in the export zones, which is why they attract FDI from ASEAN countries and China.

In fact unionization and red-tape is what held India back in this sector.

Post-LDC status, FTA should be must. Vietnam is benefiting because of their FTAs with EU a lot.

Unionisation is not a bad thing with correct checks and balances.

At the end of the day in the export zone one could have national pay review undertaken centrally in a controlled fashion.

Unions are not a bad thing, at the moment BD workers are exploited. A balance is necessary between workers and employers.

This is unavoidable as BD populace becomes more educated unionisation of labour will become an overwhelming demand.

We wont progress without it.

 

[BananaRepublicUK]

Unionisation is not a bad thing with correct checks and balances.

At the end of the day in the export zone one could have national pay review undertaken centrally in a controlled fashion.

Unions are not a bad thing, at the moment BD workers are exploited. A balance is necessary between workers and employers.

This is unavoidable as BD populace becomes more educated unionisation of labour will become an overwhelming demand.

We wont progress without it.

unions are corrupt.

Under no circumstances should unions be allowed in EPZs.

Thanks to Hasina - Hartals have disappeared. Long may it continue.

 

[Destranator]

Unionisation is not a bad thing with correct checks and balances.

At the end of the day in the export zone one could have national pay review undertaken centrally in a controlled fashion.

Unions are not a bad thing, at the moment BD workers are exploited. A balance is necessary between workers and employers.

This is unavoidable as BD populace becomes more educated unionisation of labour will become an overwhelming demand.

We wont progress without it.

Sounds great only in theory. Unionisation ends up becoming thuggery central in Bd especially among the less educated. Best not to unionise.

unions are corrupt.

Under no circumstances should unions be allowed in EPZs.

Thanks to Hasina - Hartals have disappeared. Long may it continue.

Agreed. I have sympathy for workers which is why I support gradual increase in minimum wages but unionisation is too much.

 

[Bilal9]

Unionisation is not a bad thing with correct checks and balances.

At the end of the day in the export zone one could have national pay review undertaken centrally in a controlled fashion.

Unions are not a bad thing, at the moment BD workers are exploited. A balance is necessary between workers and employers.

This is unavoidable as BD populace becomes more educated unionisation of labour will become an overwhelming demand.

We wont progress without it.

We may be placing too much faith on workers and union leaders being educated and being reasonable negotiators.

In Bangladesh union leaders are basically thug Mastans who only know how to blackmail by shutting down factories using other thugs they control.

Being a factory owner myself, I had to kick out quite a few.

A leopard will not change it's spots....

 

[leonblack08]

We may be placing too much faith on workers and union leaders being educated and being reasonable negotiators.

In Bangladesh union leaders are basically thug Mastans who only know how to blackmail by shutting down factories using other thugs they control.

Being a factory owner myself, I had to kick out quite a few.

A leopard will not change it's spots....

Agreed.

Here in Canada we see the companies and crown corporations suffer because of Union protecting inefficient individuals. They will fight to the teeth even when someone is caught with criminal activity and are terminated. Leading to millions spent on litigation alone.

In Bangladesh, unions are just going to be dominated by thugs. They will make unreasonable demands and shutdown when it's not met or worse vandalize the factory. Making BD factories less competitive overall.

We can't afford to have workers union yet. But at the same time, the govt. Should step up to prevent any exploitation of the workers by the factory owners. Like ensuring proper channels for complaints, oversight on whether minimum wage is being paid etc.

 

[BananaRepublicUK]

Sounds great only in theory. Unionisation ends up becoming thuggery central in Bd especially among the less educated. Best not to unionise.


Agreed. I have sympathy for workers which is why I support gradual increase in minimum wages but unionisation is too much.

I have first hand experience of unions in the U.K.

I will tell you they are corrupt here as well.

 

[UKBengali]

I have first hand experience of unions in the U.K.

I will tell you they are corrupt here as well.

These lots are demanding 10% rises when they know it is not affordable.

Inflation is now the biggest danger to the country and their demands if met would just fuel it even further.

Everyone needs to accept they will have to get poorer to sort this problem out.

 

[BananaRepublicUK]

These lots are demanding 10% rises when they know it is not affordable.

Inflation is now the biggest danger to the country and their demands if met would just fuel it even further.

Everyone needs to accept they will have to get poorer to sort this problem out.

Yep!

Poorer in the short term to avoid a depression.

Government should target help to the needy.

Everyone needs to accept modest to no pay rises.

 

[mb444]

These lots are demanding 10% rises when they know it is not affordable.

Inflation is now the biggest danger to the country and their demands if met would just fuel it even further.

Everyone needs to accept they will have to get poorer to sort this problem out.

Speaking from a UK perspective....majority of the people and certaintly public sector has not had a real term pay rise since the stock market crash of 2008.

The current inflationary pressures have nothing at all to do with wages. Its all supply side pressures. It is an ideological position to expect workers to continue to accept real term pay cuts when companies are making record breaking profits. This is not the winter of discontent.

It is a money grab. Its a tory political facilitation of monopoly power being exercised by the corporations to essentially trim the fat that has been built up by the professional classes during the covid years before recession.

I say this not as a labour supporter or as a trade unionist. I am not impacted by the cost of living crisis but you have to blind not to see the social calamity we will find ourself in this winter.

 

[BananaRepublicUK]

Speaking from a UK perspective....majority of the people and certaintly public sector has not had a real term pay rise since the stock market crash of 2008.

The current inflationary pressures have nothing at all to do with wages. Its all supply side pressures. It is an ideological position to expect workers to continue to accept real term pay cuts when companies are making record breaking profits. This is not the winter of discontent.

It is a money grab. Its a tory political facilitation of monopoly power being exercised by the corporations to essentially trim the fat that has been built up by the professional classes during the covid years before recession.

I say this not as a labour supporter or as a trade unionist. I am not impacted by the cost of living crisis but you have to blind not to see the social calamity we will find ourself in this winter.

Two wrongs don’t make a right.

U.K. corporations are greedy. Public sector workers are inefficient lazy buggers.

Solution…

Tax the corporate profits to pay down debt.

Don’t reward lazy workers with pay rises.

 

[UKBengali]

Speaking from a UK perspective....majority of the people and certaintly public sector has not had a real term pay rise since the stock market crash of 2008.

The current inflationary pressures have nothing at all to do with wages. Its all supply side pressures. It is an ideological position to expect workers to continue to accept real term pay cuts when companies are making record breaking profits. This is not the winter of discontent.

It is a money grab. Its a tory political facilitation of monopoly power being exercised by the corporations to essentially trim the fat that has been built up by the professional classes during the covid years before recession.

I say this not as a labour supporter or as a trade unionist. I am not impacted by the cost of living crisis but you have to blind not to see the social calamity we will find ourself in this winter.

Tell me, how is the government expected to afford 10% pay rises across the public sector while the public finances are in such dire straights?

Pensioners want 10% and so does everyone else that relies on public handouts.

Apart from those that cannot work then everyone else should take a real terms pay cuts to try to get through this mess.

Yes the govermments of the last 25 years have been generally useless self-serving idiots but we are where we are now. The rot started with the Blair govermment and the UK generally has bad politicians these days with little competence or long-term vision.

 

[BananaRepublicUK]

Tell me, how is the government expected to afford 10% pay rises across the public sector while the public finances are in such dire straights?

Pensioners want 10% and so does everyone else that relies on public handouts.

Apart from those that cannot work then everyone else should take a real terms pay cuts to try to get through this mess.

Yes the govermments of the last 25 years have been generally useless self-serving idiots but we are where we are now. The rot started with the Blair govermment and the UK generally has bad politicians these days with little competence or long-term vision.

The rot started with the west losing its marble over 9/11.

Spent a trillion fighting bin laden - whilst bin laden was busy shagging his wives under their noses.

This gave China the opportunity to destroy the west’s manufacturing capability.

West is now once again fighting.

This time it’s back to being white on white - whilst the rest of us suffer.