Home / Knowledge / News / Apparel/Garments / Bangladesh garment exports exceed target in FY'14
Bangladesh garment exports exceed target in FY'14
14
Jul '14
The exports of readymade garments from Bangladesh surpassed the target of US$ 24.147 billion set by the Government for the fiscal year 2013-14 that ended on June 30, 2014.
 
According to the latest data released by the Export Promotion Bureau (EPB), Bangladesh’s apparel exports stood at $24.491 billion during the year, showing an increase of 1.42 percent over the target set for the period.
 
In 2013-14, Bangladesh’s clothing exports surged by 13.83 percent to $24.491 billion, compared to exports of $21.515 billion made in the previous fiscal.
 
Segment-wise, woven apparel exports grew by 12.7 percent year-on-year to $12.442 billion during July-June 2013-14 period, whereas knitwear exports soared by 15.02 percent to $12.049 billion.
 
Knitwear and woven garments together accounted for about 81 percent of total $30.176 billion worth of exports made by the South Asian nation during the twelve-month period beginning July 1, 2013.
 
The 13.83 percent growth in clothing exports was greater than the 11.65 percent growth registered in overall exports from Bangladesh during the period under review.
 
In the first half of 2013-14, Bangladesh’s garment exports grew at 19.95 percent year-on-year. But, the growth rate dropped thereafter, mainly due to the implementation of the 76.66 percent rise in minimum wage for entry-level workers in the clothing industry since December 1, 2013. 
 
With the presence of more than 5,000 garment factories that together employ nearly 4.2 million workers, Bangladesh is currently the second-largest garment exporter in the world, next only to China.
 
To help continuation of the development of the garment industry, the Bangladesh Government has reduced the duty on flex fibre, a raw material used to make the fabrics bright, from 10 percent to 5 percent for fiscal year 2014-15 that began on July 1, 2014. Likewise, the duty on artificial staple fibre was also reduced to 3 percent from the earlier 5 percent.
 
For fiscal year 2014-15, the supplementary duty on almost all woven fabrics was reduced from the earlier 30 percent to 20 percent, on most knitted or crocheted fabrics from 45 percent to 30 percent, on track suits and other garments from 45 percent to 30 percent, and on various clothing accessories form 60 percent to 45 percent.
 

Fibre2fashion News Desk - India


Must ReadView All

Maintain NAFTA trucking provisions: AAFA, US trade bodies

Apparel/Garments | On 22nd Nov 2017

Maintain NAFTA trucking provisions: AAFA, US trade bodies

The American Apparel & Footwear Association (AAFA) recently joined...

Vietnam’s textile & garment exports cross $24bn till Oct

Textiles | On 22nd Nov 2017

Vietnam’s textile & garment exports cross $24bn till Oct

Vietnam earned $24.372 billion from textile and garment exports in...

Karl Mayer unveils TMJ 4/1-T terry warp knitting machine

Textiles | On 22nd Nov 2017

Karl Mayer unveils TMJ 4/1-T terry warp knitting machine

Karl Mayer, a technology and market leader in textile machinery from...

Interviews View All

Neel Sawhney
One Friday

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

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Prathyusha Garimella
Prathyusha Garimella

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

November 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

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

Yes No

Active Poll

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

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

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

Yes No

Active Poll

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

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

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

Active Poll

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

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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