A file photo shows workers queuing before entering a ready-to-wear factory in Dhaka on August 1, 2021. The country’s clothing industry found a silver lining in 2021 as the industry ready-to-wear was starting to rebound from the 2020 Covid setback in the year. Age photo
The country’s clothing industry found a silver lining in 2021 as the ready-to-wear industry began to rebound from the Covid setback in 2020 during the year.
The makers of RMG are hoping the rebound will continue into the new year despite fears of the impact of Omicron, a new variant of the coronavirus.
Companies said 2021 was better than 2020 for them as Bangladesh’s RMG sector started to rebound from the Covid setback during the year.
The recovery of the RMG sector has been fantastic in the last three or four months of 2021 and the sector’s performance during the period has been even better than the situation before the pandemic, they said.
After the first positive cases of Covid were reported in Bangladesh in March 2020, the government announced phased closures in the country to contain the infection.
At that time, manufacturing units in Bangladesh were closed for at least a month in March and April.
The government later cleared production at RMG’s factories, but the industry faced the cancellation of large numbers of orders from Western buyers as the outbreak of the pandemic halted business in the states. -United and in European countries.
According to government data, Bangladesh’s RMG exports in 2020 decreased by $ 5.6 billion to $ 27.47 billion from $ 33.07 billion in 2019 due to the impact of the pandemic.
“2021 has been better for us than 2020 as our industry has started to rebound from the shock of the pandemic,” Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association, told New Age.
It is a good sign that the country’s RMG sector has restored the jobs of many workers in 2021, he said.
Faruque hoped that the rebound in the RMG sector achieved in 2021 would continue into 2022.
“We are worried about the Omicron variant of the pandemic and the international lockdown, but we have taken strict measures to prevent the variant in our factories,” Faruque said.
The President of BGMEA said that they have faced various challenges, including an increase in commodity prices, during the year, but the sector has also gained a few opportunities over time.
He clarified that the prices of the products had increased in the world market in 2021 but that they were lower than the rise in the prices of raw materials.
“Now we are working on innovation and branding and I hope the new year will bring more opportunities for the RMG sector,” said Faruque.
According to data from the Export Promotion Bureau, RMG’s exports in 11 months (January-November) 2021 increased by nearly $ 7 billion to $ 31.76 billion, from $ 24.82 billion during from the same period of 2020.
Apparel manufacturers have said the sector’s export revenue in 2021 will exceed the pre-pandemic level – $ 33.07 billion in 2019.
“Obviously 2021 has been better than 2020 for the RMG industry and I hope the trend continues in 2022,” said Md Fazlul Hoque, former president of the Bangladesh Knitwear Manufacturers and Exporters Association.
He said the sector’s recovery was fantastic in the last quarter of 2021.
“There is concern about the spread of Omicron. If the pandemic situation deteriorates in our export destinations, it will hamper the pace of the ongoing rebound, ”Fazlul said.
He also said the pandemic had made Bangladesh’s RMG sector able to face new challenges.