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

Textiles | On 26th Aug 2016

Maharashtra may see 10-15% drop in cotton output

Cotton production in India’s biggest cotton producing state...

Textiles | On 26th Aug 2016

Bangladesh & India to resolve jute export challenges

Indian and Bangladesh have undertaken to resolve various impediments...

Courtesy: Shopclues

Apparel/Garments | On 26th Aug 2016

Shopclues to extend loans of Rs 5,000 crore to merchants

Indian online retailer ShopClues will be extending soft loans through ...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler
Groz-Beckert

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

Yash P. Kotak
Bombay Hemp Company

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
August 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search