Home / Knowledge / News / Apparel/Garments / Bangladesh garment exports may slowdown in FY12
Bangladesh garment exports may slowdown in FY12
22
Nov '11
Readymade garment (RMG) exports from Bangladesh may witness a slower pace of growth during the current fiscal year up to June 2012 owing to the deepening debt crisis in Europe.

In July-September quarter of 2011, the country's knitwear sector exports totaled US$ 2.57 billion, showing an 18.26 percent growth over the corresponding quarter of previous fiscal, as per the data of Export Promotion Bureau (EPB).

Similarly, woven garment exports were worth US$ 2.23 billion during the three-month period, registering a year-on-year rise of 24.82 percent, which is 1.12 percent lower than the target finalized for the period.

However, the pace of growth slowed down in September 2011. This can be seen from the fact that in July-August, the earnings of woven garment and knitwear sectors increased by 33.54 and 29.64 percent respectively.

In comparison, the country's RMG exports fetched US$ 17.90 billion in 2010-11, 43 percent higher than the previous fiscal.

The European debt crisis is expected to have a negative impact and the country's RMG exports may decline further in the coming months.

“Actually, the world market is seeing a downward trend. About 50-60 percent of our goods are exported to EU, where a lot of companies are going through economic crisis. So, due to this the garment exports are little low, but not very low,” Mr. Siddiqur Rahman, Vice President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) told fibre2fashion.

Prof. Mustafizur Rahman, Executive Director of the Centre for Policy Dialogue (CPD) agrees, “Europe being our major export zone the situation there affects our exports, particularly knitwear.”

Providing additional reasons, he says, “Last year, our garments export growth rate was over 40 percent. So, another 40 percent growth rate over and above that growth is, of course, very difficult to achieve. Secondly, the price of cotton and yarn has come down significantly by about 50 percent compared to last year. This has led to decline in prices of fabrics and apparel at the retail-end. Hence, the growth rate will definitely come down in terms of dollars, but not in terms of volume.”

“Overall, I do not expect the RMG exports to repeat the last year's growth rate of 40 percent, but it should be around 20 percent this year,” he adds.

Mr. Rahman, however, is very optimistic and quips, “We expect the market to pick up once again next year and the growth will be as it was last year.”

Fibre2fashion News Desk - India


Must ReadView All

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Courtesy: Badger Sportswear

Apparel/Garments | On 12th Dec 2017

Badger Sportswear acquires Alleson Athletic

Badger Sportswear, a leading manufacturer of athletic apparel and...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search