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 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Paolo Ocleppo
Sandvik Hyperion

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X