Bangladesh’s garment export to Europe falls 3.53 pct in January-August

DHAKA, Oct. 23 (Xinhua) — While retaining its second place in garment exports to the European Union (EU) market, Bangladesh saw the apparel shipments dropped 3.53 percent from January to August to 12.90 billion U.S. dollars due in large part to domestic political turmoil and labor unrest, local media report said Wednesday, citing Eurostat data.
High inflationary pressures on the European economy also had an impact, The Daily Star newspaper reported.
Bangladesh’s garment exporters have been mired in crises in past months, with political and economic uncertainty as well as incidents of arson and extortion casting a shadow over normal business operations, according to the report.
The situation was exacerbated by spells of labor unrest in industrial belts of the South Asian country since September, which led to production losses worth 400 million U.S. dollars, showed data from the Bangladesh Garment Manufacturers and Exporters Association.
The impact from months of turmoil on business operations included work order cancellations and postponement of factory visits by representatives of international clothing retailers and brands, according to the report. ■