Fashion
Bangladesh RMG productivity up 4.19% in 10 yrs due to automation: BIDS
The study covered six processes: knitting, weaving, wet processing, cutting, sewing and end-finishing . It explored whether technological convergence was taking place across firms and tasks.
The eight products covered included knit-lingerie, denim trouser, sweater, T-shirt, jacket, woven trouser, woven shirt and home textile.
Bangladesh saw a garment productivity boost in cutting and knitting due to automation and technological upgradation, while jacket production has seen high efficiency, a study revealed.
The garment industry maintained a compound annual productivity growth rate of 4.19 per cent in 10 years.
Cutting saw an annual productivity rise of 11.13 per cent, knitting 9.85 per cent and wet processing 6.11 per cent.
Automation-intensive areas drove the strongest performance, with cutting achieving an annual productivity increase of 11.13 per cent, knitting 9.85 per cent and wet processing 6.11 per cent, the study revealed.
In contrast, sewing, which remained the least automated and most labour-dependent component of the production chain, posted the lowest growth of 3.57 per cent.
Weaving and end finishing gained moderate growth of 4.43 per cent and 4.78 per cent respectively.
The garment industry maintained a compound annual productivity growth rate of 4.19 per cent during the last 10 years, domestic media outlets reported citing the study.
Jackets and knit lingerie emerged as the top-performing categories with 6.59 per cent and 6.43 per cent average annual productivity growth respectively, while traditional woven items like trousers and shirts showed significantly slower growth of 1.15 per cent and 3.0 per cent growth respectively.
Other products showing strong productivity growth included knit sweaters (6.05 per cent), home textiles (5.58 per cent), and T-shirts (4.39 per cent).
Technologies previously exclusive to large companies, including automated cutting, semi-automatic sewing heads, laser/ozone finishing, auto-dosing in dyeing, and digital QC tools, were becoming widespread in medium-scale factories, the study found.
Fibre2Fashion News Desk (DS)
Current account excluding gold and energy indicated net deficit of $3.9 billion, while goods saw a deficit of $9.5 billion.
Turkiye recorded a current account deficit (CAD) of $9.6 billion in March, the country’s central bank said.
Treasury and Finance Minister Mehmet Simsek said the CAD is expected to widen this year, due to high energy and non-energy commodity prices.
Simsek said the deterioration is likely to remain temporary and manageable, thanks to stronger macroeconomic fundamentals and policy gains.
According to annualised data, current account deficit recorded as $39.7 billion (2.6 per cent of gross domestic product) in March, while the goods deficit recorded as $77.8 billion.
Simsek said the deterioration is likely to remain temporary and manageable thanks to stronger macroeconomic fundamentals and policy gains, domestic media outlets reported.
Turkiye is heavily reliant on imported energy, whose prices spiralled due to the Middle East conflict.
Simsek said elevated global commodity prices would put pressure on the external balance, but emphasised that the government’s economic programme had improved resilience against such shocks.
He said foreign direct investment (FDI) inflows totalled $1 billion in March, bringing annualised foreign direct investment to $12.6 billion.
The new investment incentive package under discussion in parliament now is expected to strengthen the country’s financing structure and support long-term capital inflows, he added.
Fibre2Fashion News Desk (DS)
During the first quarter of ****, the UK’s imports of textile fabrics eased down *.** to £*,*** million (~$*,*** million), against £*,*** million in January-March **** but slightly higher from £*,*** million in the fourth quarter of ****. Its imports of fibre were noted at £** million (~$***.** million) steady as £** million in Q*, **** but slightly lower than £** million in Q*, ****.
During the third month of this year, the country’s clothing imports declined *.** per cent to £*.*** billion (~$*.*** billion), compared with £*.*** billion in March ****. But the inbound shipment was slightly higher month on month compared with £*.*** billion in February ****.
Higher rents, utility bills and fuel prices are eating away at already thin profit margins, it found.
High inflation is cutting deep into Bangladesh consumer spending, with weak demand turning one of the biggest concerns for businesses, DCCI said.
Higher rents, utility bills and fuel prices are eating away at already thin profit margins.
DCCI’s economic position index revealed that consumers have sharply reduced spending as the cost of living continues to rise.
SMEs are feeling the pressure the most.
The chamber’s economic position index (EPI) revealed that consumers have sharply reduced spending as the cost of living continues to rise, putting pressure on retailers, transport operators and other service providers.
Small and medium enterprises (SMEs) are feeling the pressure the most as they struggle to manage higher operating costs without losing customers.
Businesses also cited difficulties in obtaining bank loans, while delays in licensing and other regulatory procedures are adding to costs.
The DCCI report identified a shortage of skilled workers, particularly in technical and customer service roles, as another challenge for the sector.
The country’s inflation rose to 9.04 per cent in April from 8.71 per cent in March, according to official statistics.
Fibre2Fashion News Desk (DS)
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