RMG Sector: $2.44 billion decline in US exports raises hopes of summer orders

RMG Sector: $2.44 billion decline in US exports raises hopes of summer orders

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Sheikh HM Mustafiz, managing director of Cute Dress Industries, informed Prothom Alo that purchase orders from the United States are increasing along with an increase in orders from Canada and South America. Last year, demand for readymade garments declined, leading to fewer purchase orders due to high stocks of goods in various US warehouses.

However, as the stock has decreased, buy orders have started increasing. Besides, the demand for clothes is also increasing.

Exports of ready-made garments to the European Union (EU) grew only marginally by one and a half percent last year. According to EPB data, readymade garments worth $23.38 billion were exported to the EU last year.

Ashikur Rahman, former director of BGMEA, shared with Prothom Alo, “There were good sales in the United States during Christmas. As a result, we expect purchase orders to increase from next April to May. At that time, the summer of next year Purchase orders will increase. The winter purchase order that came before that is not too bad.

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