RMG News & Analysis
3 articles
Market Mood
Bangladesh's Apparel Exports Decline 3.41% Amid Economic Challenges
The BGMEA reported a 3.41% decline in garment export earnings and a 1.55% decrease in average unit prices due to global economic slowdown and rising domestic costs. Around 400 factories have closed in Bangladesh over the past three years, prompting calls for policy support to maintain competitiveness in the apparel industry. The government's new budget targets a 6.5% growth rate while emphasizing long-term stability and development across various sectors. The BGMEA advocates for reductions in taxes and import duties to support the Ready-Made Garment (RMG) industry, crucial for employment and foreign exchange earnings.
Read More: Bangladesh's Apparel Exports Decline 3.41% Amid Economic Challenges
Royal Mail (RMG) Delivery Performance Drops to 75.7% On-Time
Royal Mail (RMG) reported that only 75.7% of first class letters were delivered on time for the year ending March, falling short of its 93% target. In comparison, the previous year’s figure was 76.9%. Royal Mail is investing £500 million over five years to improve its service, with new targets set at 90% for first class and 95% for second class letters. Ofcom expressed concern and is expected to open an investigation into Royal Mail's performance, highlighting ongoing issues with delivery reliability.
Read More: Royal Mail (RMG) Delivery Performance Drops to 75.7% On-Time
Royal Mail (RMG) First Class Stamp Price Increases to £1.80
Royal Mail (RMG) has raised the price of a first class stamp to £1.80, an increase of 10p, while second class stamps rise by 4p to 91p. This marks the eighth price increase in five years. Currently, only 77% of first class letters are delivered within one working day, against a target of 93%. The price hike comes amid declining letter volumes, increasing delivery costs, and ongoing criticism regarding service performance.
Read More: Royal Mail (RMG) First Class Stamp Price Increases to £1.80