Further adding to the woes is the declining consumer demand due to rising inflationary pressure arising from the Russia – Ukraine war.
This is as per reports, which underlined according to data compiled by the BGMEA, Bangladesh exported 178.39 million kgs of garment items to the UK in the January-October period last year, surpassing China, which shipped 159.25 million kgs during the same period.
Although Bangladesh’s garment export volume decreased by 8.83 per cent, and China’s by 11.39 per cent in this timeframe, Bangladesh retained its top position.
In 2022, Bangladesh exported 232.68 million kgs compared to China’s 222.83 million kgs.
The overall import of garment items by British retailers and brands dropped by 12.19 per cent to 604.02 million kgs in the January-October period last year due to inflationary pressure on consumers resulting from the severe impacts of the Covid-19 pandemic and the Russia-Ukraine war.
