Home / Knowledge / News / Apparel/Garments / Bangladesh's garment exports to new markets soar
Bangladesh's garment exports to new markets soar
24
Jan '13
There has been a record rise in Bangladesh’s apparel exports to new emerging markets during the first six months of the current fiscal year that started on July 1, 2012.
 
Indicative of a year-on-year rise of 24.11 percent, new markets contributed around US$ 996.89 million of the US$ 9.94 billion that Bangladesh earned from exports of woven and knit garments during the first half of the current fiscal, according to the data released by the Export Promotion Bureau (EPB).
 
Europe accounted for US$ 5.81 billion of the overall earnings for the period, while the US and Canada accounted for US$ 2.27 billion and US$ 478.92 million worth of exports, respectively.
 
Contribution of the non-traditional market in Bangladesh’s total garment exports increased to 10.02 percent during the review period, from 8.69 percent share during the corresponding period of last fiscal.
 
Bangladesh’s apparel exports to Russia, Australia, South Korea and Chile grew by 70.07 percent, 64.98 percent, 47.92 percent and 39.6 percent, respectively during July-December 2012.
 
In contrast, the share of EU and the US declined from last year’s 59.74 percent and 23.91 percent to 58.8 percent and 22.87 percent, respectively.
 
Analysts attribute the rise in clothing exports to non-traditional countries to the cash incentives introduced by the Government as well as the efforts put in by exporters to diversify to new markets in view of the slowdown in demand from traditional markets.
 
The new markets being eyed by Bangladeshi exporters during the past few years include China, South Africa, India, Russia, Japan, Mexico, Australia, Turkey, Brazil, South Korea and Chile.
 
In spite of a rise in Bangladeshi garment exports to new markets, they still remain much lower than the exports to traditional markets in terms of value.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Ashok Desai
Bombay Textile Research Association

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

Kai Poehler
Voith Paper GmbH & Co. KG

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Robert Brunner
Devereux

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search