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

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Erik Sy

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

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Kerem Durdag
Biovation II LLC

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Suresh Patel
Sidwin Fabric

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

Jay Ramrakhiani
Occasions Elegance Wear

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

January 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
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

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
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

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
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

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
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


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