Profits of Bangladesh’s listed garment export companies drop %

According to Bangladesh’s “Daily Star” report on January 19, although the taka depreciated sharply last year, due to rising loan, raw material, and energy costs, 29 listed clothing companies in Bangladesh Among export companies, 13 saw profits decline and 5 suffered losses for the first time. It is said that the comprehensive profits of these 29 companies fell by 49.8%. Mohammad Hatem, executive chairman of the Bangladesh Knitwear Manufacturers and Exporters Association, said that 80% of unlisted garment manufacturers are losing money, 10% break even, and the remaining 10% are profitable. According to data from the Export Promotion Bureau of Bangladesh (EPB), garment exports increased by 10% to US$46.99 billion in the last fiscal year. But Hatem said the Export Promotion Agency’s data was inaccurate and exaggerated. </p