Bangladesh's garment exports to new markets jump

27 Mar '12

2 min read

The exports of readymade garments (RMG) from Bangladesh to new markets has increased phenomenally by 42 percent during the initial seven months of the current fiscal that began on July 1, 2011, according to data from Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

The new markets constitute 11 countries, namely, Australia, Brazil, Chile, China, India, Japan, Mexico, South Africa, South Korea, Russia and Turkey.

Out of the 11 new markets, Japan turned out to be the largest importer of apparels from Bangladesh.

During the July-January months of the current fiscal, Bangladesh exported US$ 191 million worth of garments to Japan, compared to exports worth US$ 93 million during the corresponding period of the last fiscal, according to BGMEA.

During the seven month period, Bangladeshi apparel exports to Australia increased to US$ 121 million, as against its exports of US$ 66 million during the same period of previous fiscal.

Brazil imported RMG worth US$ 73 million from Bangladesh during the period, compared to its imports of US$ 44 million during the same period last year.

According to experts, the growth in Bangladesh's garment exports to these countries has become possible due to the Government extending a stimulus package, aggressive promotional activities undertaken by BGMEA and other organizations, and buyers' confidence in Bangladesh as a significant supplier of RMG products.

Fibre2fashion News Desk - India

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