With suppliers receiving a lot of inquiries from international buyers, garment exports from Bangladesh are likely to witness a strong rebound from May this year 

As per data from the Export Promotion Bureau, garment exports from Bangladesh grew by 3.45 per cent Y-o-Y to $28.36 billion during the July-January period of 2023-24.

Retailers are coming off a successful holiday season, says Matthew Shay, President and CEO, National Retail Federation (NRF), the largest retail trade association in the US. Sales are expected to grow by 3 per cent to 4 per cent, reflecting a more sustainable rate of growth than seen during the pandemic-hit years, he adds. 

Exports may revive to certain extent in May as inquiries from international retailers and brands are increasing, says Md Fazlul Hoque, Managing Director, Plummy Fashions.  However, this growth may not be significant, he adds. 

Anwar-ul Alam Chowdhury, Former President, BGMEA, notes, the rise in inquiries from retailers and brands may lead to a surge in work orders around April or May leading to a an increase in exports to the previous levels.

Shafiur Rahman, Regional Operations Manager, G-Star, opines, revival may start from June as per projections by international retailers and brands.

According to exporters, garment exports could increase in the coming months due to fall in inflation in the West leading to an increased spending by buyers. 

Moreover, buyers are sending a lot of inquiries to buy goods from Bangladesh, affirms Hassan. Since the stock of clothing items has reduced, retailers and brands are placing a lot of work orders, he adds.

Buyers’ confidence in the industry has also increased due to various improvements made by suppliers in terms of compliance and green initiatives, Hassan adds.