Due to the increasing Russia-Ukraine conflict, Bangladesh’s garment shipments in May are expected to fall short of the $4.5 billion forecast, according to exporters.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said that clothing exports totaled $2.7 billion in the first 29 days of May, down from $3.6 billion the previous month.
The overall export receipts from garments were $35.36 billion in the first ten months of FY 2021-22. Exporters had forecasted $43.5 billion in exports, but the war may alter that forecast. Since December 2021, Bangladesh’s monthly exports have exceeded $4 billion. Despite the harsh circumstances created by the Covid-19 outbreak and Russia’s conflict in Ukraine, the country’s exports totaled $3.93 billion in April.