Bangladesh Garment Manufacturers and Exporters Associations (BGMEA) one of the largest trade associations in the country, representing the readymade garment industry expressed concern over the drop in productivities due to various reason as a result in past three years 618 factories shut down. President Siddiqur Rahman yesterday said that Bangladeshs garment industry was facing myriad challenges of gas and power crisis, high interest rate of bank loans, devaluation of US dollars and cut in pr

Apparel and footwear brought total export turnover of US$10.5 billion in January-April. Textile and garment shipments neared US$2 billion in April, up over 5% against the same period last year. The industry registered outbound sales of nearly US$7 billion in the first four months, a year-on-year rise of over 6%. The Vietnam Textile and Garment Association (VITAS) said orders mainly came from major markets like the U.S., the European Union, Japan and South Korea. Export prices remained stab

Many RMG manufacturers in the country have resorted to diesel-run power generators Nearly 200 readymade garment manufacturers in Bangladesh are facing severe shortage of gas and power supplies, leading to massive disruptions in production, the owners’ association claimed. “As it has become difficult to get new gas and power connections, many RMG manufacturers in the country have resorted to diesel-run power generators, while power cuts have just added to our woes,” said Siddiqur Rahman,

The garment-textile and leather-footwear sectors brought in US$10.5 billion from exports in the first four months of this year. Of the total, the garment-textile sector generated $6.82 billion, an annual increase of 6.2 percent. The Vietnam Textile and Apparel Association (VITAS) said most orders sealed in the period came from major markets including the US, EU, the Republic of Korea and Japan. Overall export revenue increased, but the value of orders stayed unchanged, it said. Acco

Four Chinese cities have made the list of world's top ten favorite destinations for luxury retailers, according to a report released on Thursday. Hong Kong, Shanghai, Beijing and Taipei have joined London, Paris and New York as global luxury retailers' most favorable cities, the report from real estate consultancy Jones Lang LaSalle (JLL) found. The four Chinese cities, along with Tokyo and Osaka in Japan, and city-state Singapore, made the Asia-Pacific region the best place for luxury ret

As world economic growth remains weak, world gross product will grow by just 2.4 percent in 2016, the same pace as in 2015, said a UN report here on Thursday. This marked a downward revision of 0.5 percentage points from UN projections in December 2015. The World Economic Situation and Prospects as of mid-2016 report, released by the UN Department of Economic and Social Affairs, pointed out that persistent weakness in aggregate demand in developed economies remains a drag on global growth.

Bangladesh’s apparel export to the US market has seen a 4.30% rise to $1.45 billion in the first quarter of current calendar year, despite the declining trend of overall apparel import by the United States from across the world. The overall apparel export to US from other countries has declined by 2.14% to $19.30 billion, which was $19.72 billion in the same period a year ago. According to the January-March data of the Office of Textiles and Apparel (otexa), US Department of Commerce, Bang

Hamburg-based Aid byTradeFoundation (AbTF) and the AfricanCottonand Textiles Industries Federation (ACTIF) have announced their strategic partnership for more value addition in the African cotton andtextileindustry. The two organisations have set themselves the goal to increase productivity, competitiveness and sustainability of cotton production and to strengthen the textile production in Africa together, AbtF said in a press release. AbTF had been cooperating with the ACTIF since 2013 to pr

India’s blended spun yarns export value was up 4.8 per cent YoY in March 2016 while volumes rose 10.6 per cent as compared to the same month last year. Polyester cottons yarns were exported to 51 countries in March, of which, Egypt and Bangladesh were the largest importers of PC yarn from India followed by Morocco. 6.7 million kg of total PC yarns was exported from India during the month. Honduras, Spain, Sri Lanka and Germany were the fastest growing markets for PC yarns while Peru signi

Small and medium apparel enterprises struggled to survive in quarter one, with many of them suspending production, as their customers shifted their orders to Myanmar and Laos to enjoy lower prices, heard a business conference in HCMC last week. According to Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association (VITAS), Vietnam exported US$27.4 billion worth of apparel last year and over US$8 billion in this year’s first four months, up 6% against the same period a year earlier