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Bangladeshi clothing exports to China skyrocket
23
Feb '12
Bangladesh clothing exports to China skyrocketed in fiscal 2010-11, said a report of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

According to the statistics, in fiscal year 2010-2011, total garment exports grew to US $52.81 million, up a staggering 179 percent from US $18.95 million in fiscal year 2009-10.

In fiscal year 2008-09, apparel exports to China had stood at just $9.49 million, which indicates that despite China being a superpower in textile and clothing exports, the country is emerging as a great potential for Bangladesh's garment industry.

BGMEA pointed out that mainland China is in the process of developing high-tech and high-end products and industries, due to which labour dependency is reducing.

So, China has to import cheap consumer goods from abroad and since the Bangladesh clothing industry has advantages of cheap labour and also enjoys tax breaks in its exports to China, Bangladesh has become a preferred choice for Chinese importers.

The industry is optimistic on its exports to China and expects that Bangladesh garment exports to China will grow to hundreds of millions of dollars in the next five years.

Fibre2fashion News Desk

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