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 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Robert Brunner
Devereux

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

Mike Hoffman
Gildan Activewear SRL

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

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
January 2017

January 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