There is growing concern about the export of garment products. Exports to the two main destinations, the US and the EU, declined. Especially in the first quarter of the fiscal year, there has been a major decline in exports to Germany. Those concerned say, not only Bangladesh; Exports from several countries in the region have declined. But the cause of the crisis must be found. Because if the export income is not increased, the reserve will not be preserved. It will destroy the balance of the economy.
Bangladesh has occupied the top position in the world by exporting two types of garments, which are the main export products of the country. Mainly the demand of Bangladeshi clothes in the market of United States and European Union is high. But these two markets are decreasing exports.
In the first six months of the current financial year, the rate of export to the US market has decreased by 6 percent compared to the last financial year. There has been a major decline in exports to Germany.
The outbreak of war in the Middle East has created a new crisis. Since cargo ships do not move through the Red Sea, it takes both cost and time. Exports of ready-made garments will not stabilize until the end of the war. Strategies must be figured out to overcome the crisis.
Read also:mysterious Antarctica: And what is hidden under the mysterious Antarctica?
Inflation has increased worldwide, causing consumers to reduce their purchases of goods other than consumer goods and fuel, resulting in reduced apparel export orders. However, the garment importing countries have brought inflation to a bearable level through various stages, the crisis may be over.
It is said that the exporting countries should work intensively. In this case, it is possible to increase the price of clothing by ensuring safety at work.
