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Bangladesh garment exports soar 11.84% in July-May FY'13
Jun '13
The exports of readymade garments from Bangladesh increased to US$ 19.313 billion in the first eleven months of the current financial year 2012-13, registering a rise of 11.84 percent over exports worth US$ 17.267 billion made during the corresponding period of the previous fiscal year.
Woven garment exports from Bangladesh stood at US$ 9.923 billion during July-May 2012-13, showing a year-on-year growth of 14.10 percent, according to the data released by the Export Promotion Bureau (EPB).
Knitwear exports totaled US$ 9.39 billion during the eleven-month period, an increase of 9.56 percent over exports of US$ 8.57 billion made during the corresponding period of 2011-12.
However, exports of home textiles from the South Asian nation dipped by 12.62 percent year-on-year to US$ 721.97 million, EPB data showed.
The sharp rise in Bangladesh’s apparel exports has come at a time when the Bangladesh Government is taking various steps to reform the country’s garment sector, owing to increased pressure from foreign buyers, including the US and the EU, following the collapse of Rana Plaza in April this year that resulted in the death of over 1,100 people.
The readymade garment industry accounts for about 80 percent of Bangladesh’s exports.
Over the last three decades, the Bangladesh clothing sector has grown from a scratch to become the world’s second-largest apparel exporter, next only to China.

Fibre2fashion News Desk - India

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