![]() So while we need to be optimistic about our trade and industry, we need to make cautious steps". Both global trade and economic growth forecasts by a recent report by the World Bank depicts depressive picture. Inflation in EU and USA has crossed records. However, the growth figures in recent months cannot be misjudged and over generalized as the advanced economies are clearly heading toward economic recession. Other countries with significant growth were Chile 124.33%, Mexico 77.29%, Turkey 57%, South Korea 31.16%, and UAE 25.05%. Meanwhile, the share of Vietnam in global RMG exports stood at 6.4 in 2020, up from 6.2 a year earlier. On the other hand, export to China has declined by 18.64%, and reached US$ 199.60 million. Our export to India also increased significantly by 66.36%, which is US$ 647.27 million. Among the non-traditional markets, export to Japan reached US$ 999.97 million dollars with 15.27% growth. and Canada reached US$ 4.09 billion and US$ 1.18 billion, with 29.16 % and 32.72% growth respectively.ĭuring the first eleven months of FY 2021-22, our apparel export to non-traditional markets grew by 24.54% to US$ 5.79 billion from US$ 4.65billion in the corresponding period of previous year. Other countries in EU region having high growth were Slovenia 66%, Greece 62 %, Hungary 61.26%, Poland 46.78% and Romania 46.39%. Multiple linear regression model was applied to measure the effects of macroeconomic variables on the RMG export growth. ![]() Export to Spain and France showed 37.83% and 34.93% growth respectively. As of December 2020, total exports around stood at USD 27.4 billion, capturing a market share of 6.30 out of the global apparel export market of 435 billion. Particularly, as per BGMEA, our export to Germany grew by about 27% with an amount of US$ 6.51 billion during the mentioned time. Export growth of the major export item, the knit-RMG (which accounted for 67.0 per cent of total RMG exports to the EU) was 23. Export to almost all the EU markets including Germany, Spain, France, Poland, and Italy showed positive growth during this period. The findings of the study will help the government, NGO’s and policymakers to undertake necessary steps for the progress of this sector.As per official BGMEA report," During July-May, 2021-22 our RMG export to the European Union reached US$ 19.30 billion, with 33.06% growth compared to the same period of previous fiscal year. The forecasted RMG export will be nearly 31712.82 million USD in the financial year 2022-23. From the empirical results of the study, it is observed that RMG exports have a significant upward trend for the period 1985-2018 with a growth rate of 8.76 % in 2018. Among several trend models, the Semi-log Parabolic Trend model is found to be the best-fitted model for determining the trend of RMG exports. To serve the objectives of the study, time-series data of RMG sectors has been used for the period 1985-2018. The garment manufacturing sector in Bangladesh has a new slogan: 50 billion by 2021. Indeed, RMG (with export of USD 19.90 billion). Bangladeshs 50bn RMG export target by 2021. Against a 38.20 billion target, apparel export in the 2019-20 fiscal year declined to 27.95 billion that is 18 less than the year. The RMG sector, in keeping with past trends, has continued to dominate Bangladeshs export structure in the early months of FY2021-22. The garment sector contributes about 84 to Bangladesh's overall exports. The objective of this study is to determine the export trend of the RMG sector in Bangladesh by using different trend models. The industry holds a strong foothold internationally, reflected by its holding of 6.8 of the global apparel market as of 2019. RMG exports started plummeting drastically since the Covid-19 outbreak in Bangladesh in March last year. Ready-Made Garments (RMG) sector has greater importance than any other sector in Bangladesh in terms of growth, employment, foreign exchange earnings and Gross Domestic Product (GDP). Department of Statistics, Shahjalal University of Science and Technology, Sylhet-3114, Bangladesh
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