Home / Knowledge / News / Apparel/Garments / RMG helps Bangladesh outshine Pakistan in exports
RMG helps Bangladesh outshine Pakistan in exports
20
Jul '12
Bangladesh, which greatly depends on fabric imports for its garment manufacturing industry, has for the first time surpassed Pakistan in terms of overall exports.
 
Textiles and apparels constitute a major share of Bangladesh and Pakistan’s total exports, and any change in demand, supply or price of textile products in global market, directly impacts the overall exports of these two countries.
 
However, it was Bangladesh’s time to rejoice last fiscal, as a dramatic shift in international garment orders from China to Bangladesh greatly boosted the country’s economy and exports. Posting a year-on-year rise of 6.56 percent, Bangladesh’s overall readymade garment (RMG) sales for just concluded fiscal year grew to US$ 19 billion.
 
In fact, the low cost of labour has helped Bangladesh make a place for itself in the global supply chain for low-end clothing, making apparels for global brands.
 
This positivity in textile and apparel sector helped Bangladesh to achieve a US$ 24.3 billion mark in exports during last fiscal, more than Pakistan’s exports of US$ 23.6 billion during the corresponding period.
 
Due to its Least Developed Country (LDC) status, while Bangladesh enjoys zero or preferential tariff facility, particularly for its textile and apparel exports in global market, especially in the EU countries, Pakistani textile and apparel items are subjected to heavy duties.
 
Although Bangladesh missed the export target of US$ 26.5 billion set for the fiscal 2011-12, its export figures of US$ 24.3 billion was more than the previous fiscal’s exports figures of US$ 22.92 billion.
 
On the other hand, Pakistan’s exports during last fiscal plummeted by 4.71 percent from previous year’s exports of US$ 24.81 billion to US$ 23.6 billion. 
 
Despite non-textile items constituting at least 40 percent of Pakistan’s exports, the country failed to sustain the increasing trend after 2010-11 fiscal, when its exports grew from US$ 19.29 billion to US$ 24.81 billion.
 
During 2008-09, 2009-10 and 2010-11, Bangladesh’s exports stood at US$ 15.54 billion, US$ 16.17 billion and US$ 22.982 billion, respectively, while Pakistan’s exports stood at US$ 17.69 billion, US$ 19.29 billion and US$ 24.81 billion, respectively, during the same period.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search