Bangladesh exported fan jerseys worth $1 billion for all 32 nations participating in the 2018 FIFA World Cup in what can be viewed as an exciting opening for the country's garment exporters.
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Bangladesh is still a lucrative destination for sourcing low-cost garment items, coming second to only China, according to the Global Sourcing Survey-2018 by the AsiaInspection, which provides inspection services to global brands.
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Export diversification has proven to be a formidable task for Bangladesh. If anything, export concentration—more specifically, dependence on readymade garments (RMG)—has increased further.
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At the Mohammadi Fashion Sweaters Ltd. factory in Bangladesh’s capital, a few dozen workers stand watching as 173 German-made machines knit black sweaters for overseas buyers.
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Country’s export earnings from United Kingdom, the third largest market for Bangladesh, soared by 19 per cent in the first half of the current fiscal year compared with the same period of last FY due to surging garment exports against Brexit fears.
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CPD RMG Study Stitching a better future for Bangladesh