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Bangladesh garment export growth slackens in Jan
14
Feb '12
A rise in knitwear and woven garment exports pushed Bangladesh's overall exports for the month of January 2012.

According to the state-owned Export Promotion Bureau's statistics, the country's knitwear exports, growing at a year-on-year rate of 9.71 percent reached US$ 5.57 billion during the initial seven months of the current fiscal that started on July 1, 2011. During the same period, woven garment exports touched US$ 5.39 billion, rising at a rate of 22.84 percent y-o-y.

Such rise in export of knitwear and woven garments, owing to a shift in orders from other competing nations, pushed the country's exports for the July-January period to US$ 13.92 billion, which is a year-on-year rise of 14.28 percent.

Bangladesh's exports for the month of January reached US$ 2.14 billion, up 4.11 percent from the December 2011's exports of US$ 2.06 billion, when it grew by 29.76 percent. However, January exports fell short to achieve the monthly target by 1.31 percent.

According to experts, the country missed on its export target for January, as high targets were set at the start of the current fiscal, but over the past few months, the EU debt crisis has slackened the pace of growth in the country's exports.

Fibre2fashion News Desk - India

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