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Bangladeshi garment exports surpass target
18
Jun '11
Backed by garment exports, Bangladesh's overall exports surged 41.61 percent during the initial 11 months of the current fiscal year ending June 30, over corresponding period last year.

During the eleven months July-May period, Bangladesh shipped goods worth US$ 20.54 billion, which was much above the target of US$ 16.58 billion fixed for the period.

During the month of May itself, the country's exports grew to US$ 2.30 billion, which was 47.69 percent higher than May 2010's exports, and 34.26 percent higher than the monthly target.

Amongst the key export items, exports of knitwear items grew by 46.76 percent y-o-y to US$ 8.44 billion, while the exports of woven garments rose by 39.44 percent y-o-y to US$ 7.51 billion during the review period.

Industry experts believe that export opportunities for garment items would greatly increase once Europe and Japan completely recover from the financial crisis. In fact, Japan has already emerged as a favourable export destination for apparel items from Bangladesh.

However, some exporters are of the opinion that though the country's exports for the current fiscal have remained good, the rise may not sustain next year.

Bangladesh's exports mainly depend on the economic revival of the western nations. At present, there is a decrease in the number of orders pouring in, and hence, there might be a slowdown in garment exports during July to September this year.

Fibre2fashion News Desk - India

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