Bangladesh’s RMG exports to US cross $10b in 2022

[FuturePAF]

US market is growing last year compared to 2021 ( still effected by Covid years )

Indonesian appearel was also growing at around 36 percent in US market, not different with India as well

So basically if Pakistan gets its act together it too can recover relatively quickly, and perhaps even grow exports?

 

[UKBengali]

@mb444

You are funny dude.

Your problem is you have no knowledge beyond some textbook economics. No understanding of geopolitics or military realities either.

I prove you wrong time and time again and that is on record here of pdf and you keep contradicting yourself, just now by claiming BD is a democracy.

Did you not claim that the current government is illegitimate before and been ranting for fair elections?

 

[mb444]

@mb444

You are funny dude.

Your problem is you have no knowledge beyond some textbook economics. No understanding of geopolitics or military realities either.

I prove you wrong time and time again and that is on record here of pdf and you keep contradicting yourself, just now by claiming BD is a democracy.

Did you not claim that the current government is illegitimate before and been ranting for fair elections?

Rather than more deflection tell us how favorable tariff free trade has harmed BD.

You have not proved me wrong once other than just saying you have. Does not really matter how many times you say it still remains untrue.

I ask again how has favorable tarrif free trade harmed BD? Answer that and I will happily indulge you with your deflection as to why the current BAL government is democratically illegitimate.

You are an uneducated simpleton my friend without the skillset to tango here. You are just too stupid....

 

[UKBengali]

Rather than more deflection tell us how favorable tariff free trade has harmed BD.

You have not proved me wrong once other than just saying you have. Does not really matter how many times you say it still remains untrue.

I ask again how has favorable tarrif free trade harmed BD? Answer that and I will happily indulge you with your deflection as to why the current BAL government is democratically illegitimate.

You are an uneducated simpleton my friend without the skillset to tango here. You are just too stupid....

Rather than more deflection tell us how favorable tariff free trade has harmed BD.

You have not proved me wrong once other than just saying you have. Does not really matter how many times you say it still remains untrue.

I ask again how has favorable tarrif free trade harmed BD? Answer that and I will happily indulge you with your deflection as to why the current BAL government is democratically illegitimate.

You are an uneducated simpleton my friend without the skillset to tango here. You are just too stupid....

Again you are too funny and taking on someone way above your level.

When did I say tariff free access has not helped BD garment industry?

What I said was the time has come to take it away as it is making a mature industry lazy now - 2026 would be a good time for BD to stand on its own two feet.

USA experience has proved BD garment industry does not need quotas and BD asking for it gives a bad image that the country is still an impoverished one.

PS - When exactly is BAL going to be overthrown as per your confident prediction from Dhaka late last year according to your “source”?

 

[mb444]

Rather than more deflection tell us how favorable tariff free trade has harmed BD.



Again you are too funny and taking on someone way above your level.

When did I say tariff free access has not helped BD garment industry?

What I said was the time has come to take it away as it is making a mature industry lazy now - 2026 would be a good time for BD to stand on its own two feet.

USA experience has proved BD garment industry does not need quotas and BD asking for it gives a bad image that the country is still an impoverished one.

PS - When exactly is BAL going to be overthrown as per your confident prediction from Dhaka late last year according to your “source”?

How does tarrif free trade make BD RMG sector lazy. Do they have a monopoly in RMG in global market. Actually forget global does BD have a monopoly in EU? Are we price takers or price makers?

I promise you absolute intellectual turkey..... i will address your BAL deflection as soon as you set out the basis of your argument.

 

[bluesky]

Some BD posters were saying and hoping a few months ago that US would “punish” BD for lack of democracy and “human rights abuses” but what we see is BD helping displace China for textile exports to USA.

BD will carry on displacing, along with Vietnam, China in this sector over this decade.

This is a truly great achievement and Biman will buy many more Boeings in return.

Let the trade relations between BD and USA flourish on the basis of mutual respect and economic gains.

Are you sure BIMAN will buy Boeing planes? Then why it is necessary to establish a aeronautical college in BD if the purpose is not to manufacture planes better than Boing?

Sorry, you are doing mistakes. BD will certainly build planes that will fly Dhaka-New York in 3 hours. Please wait for another year for the next election when your BAL party will be wiped out of power.

 

[UKBengali]

How does tarrif free trade make BD RMG sector lazy. Do they have a monopoly in RMG in global market. Actually forget global does BD have a monopoly in EU? Are we price takers or price makers?

I promise you absolute intellectual turkey..... i will address your BAL deflection as soon as you set out the basis of your argument.

You just don't get it do you?

Remember a while back I called you "myopic" and that is exactly what you are.

It is not just about one thing like BD losing tariff-free access but lots of other factors at play like BD's image, incentive to move up the value chain and also it's own power via giving access to it's own market which is growing at probably the fastest rate in the developing world from a not unsubstantial level now. There are a lot of factors at play here but you just focus on one specific thing as that is all that matters.

Like I say BD is at a stage now where it really needs that quota and duty-free access for garments removed entirely and so it can compete without any special help. 2026 would be a good time and that gives BD garment's industry 3 more years to prepare.

Let us just leave it as you are getting frustrated and name calling. You don't seem to be in any fit state to debate anything here.

 

[Indos]

So basically if Pakistan gets its act together it too can recover relatively quickly, and perhaps even grow exports?

The fall in demand I believe happen in European market as they are the ones who get affected badly by Russian invasion. I believe Indonesian export to Europe is also falling. The problem with Pakistan is that it depends too much with Western market for its export. Bangladesh export to Europe I believe is also falling. This is why they need IMF. For Indonesia we are less effected since Indonesia number 1, 2, 3, 4 export destinations are China, USA, ASEAN, India. Export data shows export is still raising in December 2022.

China GDP was still growing at around 4 % last year, ASEAN was booming last year as Malaysia, Philippine have 8,7 % and 7 % percent growth, Singapore growth was around 4.2 %, Vietnam was growing at around 6.5 %, USA I think was around 2 %, and India will likely around 6 % ( they havent released their Q4 2022 data yet )

Europe is getting better since early 2023, Pakistan textile export I believe will recover soon.

 

[FuturePAF]

The fall in demand I believe happen in European market as they are the ones who get affected badly by Russian invasion. I believe Indonesian export to Europe is also falling. The problem with Pakistan is that it depends too much with Western market for its export. Bangladesh export to Europe I believe is also falling. This is why they need IMF. For Indonesia we are less effected since Indonesia number 1, 2, 3, 4 export destinations are China, USA, ASEAN, India. Export data shows export is still raising in December 2022.

China GDP was still growing at around 4 % last year, ASEAN was booming last year as Malaysia, Philippine have 8,7 % and 7 % percent growth, Vietnam was growing at around 6.5 %, USA I think was around 2 %, and India will likely around 6 % ( they havent released their Q4 2022 data yet )

Europe is getting better since early 2023, Pakistan textile export I believe will recover soon.

Hopefully Pakistan can diversify as well and export more to friendly neighbors like the GCC and China as well as make inroads into the ASEAN, African and Latin American markets while finding a way to grow as much as possible in transitional western markets.

 

[Indos]

Hopefully Pakistan can diversify as well and export more to friendly neighbors like the GCC and China as well as make inroads into the ASEAN, African and Latin American markets while finding a way to grow as much as possible in transitional western markets.

Yup, GCC is huge market. The reason Pakistan export more to Europe is also due to geographical reason, India also rely more on Europe than Indonesia, this is why their merchandise export was falling in November and stagnant in December 2022.

 

[fallstuff]

I would second your position.

However please note there is a lag between crisis hitting and it being translated into economic numbers.

There would have been a period where imports particularly cotton purchases fell. Some impact of this may come through on the next few months. But at the same time BD maintains some reserves of raw materials so some of that would also be negated.

The devaluation of Taka has also made our exports more competitive.

The situation in Q2 is where we will see the overall impact. On the negative side we have the spectre of global recession so less orders perhaps, taka devaluation and USD crunch making raw material imports, fuel more expensive and difficult to source, high inflation raising salaries in country. But equally on the positive side our imports are cheaper due to devaluation, our logistics have improved with direct shipping to core markets, covid related issues in china causing orders to move to BD and more LEED certified factories in BD. I am hoping the positives will enable the forward trajectory of exports to continue.

For the economy as a whole bumper rice harvest is about to start, booming petrodollar economies leading to huge manpower exports are also a reality.

Positives I think will outweigh the negatives in the medium to longrun.


Been here since the beginning of this forum dude in various guises since the early 00's. Still no comment on how a world class genius brain of your came to the conclusion that tarrif free trade is holding BD back?

Bernie Madoff ponzie scheme was exposed because of the financial crisis of 2008 when clients trying to cash out their investment had the rude awakening. Same can be said about BB foreign reserve as the Russian -Ukraine war stressed BB reserve hold exposing the loot of the foreign reserve.
I am afraid free trade agreement with India is only going to be one way as we have seen before. Once again India will enact non-tariff barriers.
Regardless of what you think about Modi, he protects India's interest, Hasina will give away anything to stay in power.