Garment exports begin to see revival, September fall lowest in 5 months

Garment exporters have started seeing the revival of demand, which in turn has increased capacity utilisation to around 60-80 per cent

After witnessing a sharp decline since April, ready-made garment exports are on a road to revival. In April, exports dropped by around 91.04 per cent in dollar terms, and in August, the fall was 14 per cent. In April, exports fell to $126 million, compared to $1.409 billion in April 2019.
 

In August, exports stood at $1.084 billion, compared to $1.260 billion in the corresponding month of the previous year. Recovery was largely driven by the European Union (EU) markets. With garments seeing demand revival, capacity utilisation has increased to 60-80 per cent.
 

Companies said customers are placing new orders