Home / Knowledge / News / Apparel/Garments / B'desh RMG exports to grow 15% in FY12 - Experts
B'desh RMG exports to grow 15% in FY12 - Experts
03
Jan '12
Bangladesh readymade garment (RMG) exports are likely to grow by around 15 percent in 2011-12 over last fiscal, according to experts.

As per the statistics released for the first five months of the current fiscal by the Export Promotion Bureau (EPB), Bangladesh's overall exports have grown by 18 percent year-on-year compared to a growth rate of 40 percent y-o-y observed last fiscal.

In July this year, exports from Bangladesh rose by 28.7 percent y-o-y, followed by a rise by 32.4 percent y-o-y in August. However, the growth rate declined to 2.29 percent y-o-y in September, 15.44 percent in October and 2.4 percent in November.

Speaking to fibre2fashion, Mr. Shubhashish Bose, Vice Chairman of EPB, said, “Bangladesh's export target for 2011-12 is US$ 26.5 billion, which is much more than last year. We have figures from July to November 2011 and our exports have been worth US$ 9 billion during the five-month period and we hope we will be able to achieve our targets by the end of the year.”

“Out of the total exports, the RMG sector constitutes about 78-80 percent,” he informs.

Analysing the figures, Prof. Mustafizur Rahman, Executive Director of Centre for Policy Dialogue (CPD), says, “Last year, the growth rate was 40 percent because the global demand was rising and 40 percent is an exceptionally high rate. But, one cannot expect the exports to grow at such a high rate every year. So, 18 percent growth rate on top of the 40 percent growth rate of last year is a remarkable growth.”

“For the garment sector, the prices of raw materials, i.e. cotton and yarn, have come down by 50-60 percent compared to last year. So, the price level and the cut and making charges being offered are somewhat lower this year. In light of these factors, the growth rate can be termed as significant,” he adds.

He further explains, “The profit margins have come down this year. And, because there has been a depressed demand in the markets of US and Europe, some shift is taking place from China to Bangladesh on offer of lower prices, which is benefiting the garment industry. Moreover, India has offered zero tariff access to all Bangladeshi items, which is also favouring our country's exports.”

Commenting about the likely growth in country's garment exports this fiscal, he says, “It is uncertain how the Eurozone crisis develops and whether it will degenerate in recession. As of now, I foresee a double digit growth rate with the overall growth at around 14-15 percent this fiscal.”

Expressing similar views, Mr. Bose says, “In garments, Bangladesh mainly exports basic apparels that are not high value products but are needed by people all the time. So, even if there is recession in Europe or the US, people have to buy these apparels because it is a basic necessity for all. So, our apparel sector will not be very much affected and we can look forward to a double digit growth to achieve the export target.”

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Fashion Revolution/Fashion Transparency Index

Apparel/Garments | On 23rd Apr 2018

Transparency helps in swiftly alerting brands

Disclosing key supplier, supply chain and operational information...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Erik Sy

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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