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Bangladeshi garment exports beat expectations
13 Jul '11
2 min read
In the just concluded Bangladesh fiscal 2010-11, garment exports including specialized and home textiles clocked US$ 19.025 billion, beating all expectations.
While shipments of home textiles registering a cent percent growth increased to US$ 788.76 million, the exports of knitted garments accounted for US$ 9.48 billion with a year-on-year increase of 46 percent, and woven items grew to US$ 8.43 billion with a year-on-year rise of 40 percent.
During the 2009-10 fiscal, Bangladeshi garment exports sector grew by just three percent owing to the global recession.
One of the reasons for the spectacular growth in the country's garment exports in fiscal 2010-11 is the diversion of orders from China, the leading clothing exporter in the world. The increase in salaries of employees in recent times has increased the cost of production in China and hence, Bangladesh is able to compete with it, especially in low-end garment segment, according to experts.
Prominent international retailers like Gap, H&M, Wal-Mart and Tesco prefer to place their orders in Bangladesh as the country is able to deliver goods at cheaper prices, say experts.
Though the export growth trend is expected to continue in fiscal 2011-12, the exporters will have to deal with problems like gas and power crises which tend to hamper the growth, they add.
Editor's note-The market is never static and hence the exporters need to take advantage of the present boom by expanding to more markets.
While shipments of home textiles registering a cent percent growth increased to US$ 788.76 million, the exports of knitted garments accounted for US$ 9.48 billion with a year-on-year increase of 46 percent, and woven items grew to US$ 8.43 billion with a year-on-year rise of 40 percent.
During the 2009-10 fiscal, Bangladeshi garment exports sector grew by just three percent owing to the global recession.
One of the reasons for the spectacular growth in the country's garment exports in fiscal 2010-11 is the diversion of orders from China, the leading clothing exporter in the world. The increase in salaries of employees in recent times has increased the cost of production in China and hence, Bangladesh is able to compete with it, especially in low-end garment segment, according to experts.
Prominent international retailers like Gap, H&M, Wal-Mart and Tesco prefer to place their orders in Bangladesh as the country is able to deliver goods at cheaper prices, say experts.
Though the export growth trend is expected to continue in fiscal 2011-12, the exporters will have to deal with problems like gas and power crises which tend to hamper the growth, they add.
Editor's note-The market is never static and hence the exporters need to take advantage of the present boom by expanding to more markets.
Fibre2fashion News Desk - India
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