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Bangladesh garment exports swell in 2011-12
11
Jul '12
Bangladesh’s exports of readymade garments (RMG) rose to US$ 19 billion during fiscal 2011-12 that ended on June 30, according to the figures released by the Export Promotion Bureau (EPB).
 
The over six percent year-on-year rise in apparel exports was still good considering the slump in global economy, which led to a decrease in demand, especially from the key Western markets, the EPB said.
 
The exports of woven items fetched US$ 9.60 billion during last fiscal, showing a year-on-year growth of 13.89 percent, while that of knitwear rose marginally by 0.05 percent year-on-year to US$ 9.48 billion. 
 
During the year, Bangladesh’s home textiles exports grew at 14.87 percent year-on-year to US$ 906.07 million, while exports of specialized textiles, including terry towels, declined by 15.67 percent year-on-year to US$ 138.77 million. 
 
During the current fiscal that began on July 1, the Government of Bangladesh seeks to diversify its RMG exports to new markets like Brazil, Russia, India, China, South Africa and Japan.
 
In recent months, Bangladesh’s clothing exports have received a major boost due to a shift in orders from China to the South Asian country.
 
The low labour and manufacturing costs in Bangladesh have helped the country to bag orders from several global apparel brands like Carrefour, JC Penney, H&M, Tesco, Kohl’s and Marks & Spencer.
 

Fibre2fashion News Desk - India

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