Bangladesh apparel exports turn positive in Jul-Nov '14

15 Dec '14

2 min read

The value of exports of readymade garments from Bangladesh turned positive in the first five months of the ongoing fiscal year that began on July 1, 2014, after posting a 1.7 per cent decline for July-October 2014 period.

In July-November 2014, the value of garments exported by Bangladesh stood at US$ 9.691 billion, registering an increase of 0.39 per cent over exports of apparel worth $9.653 billion made during the same period of the previous fiscal year, according to the data released by the Export Promotion Bureau.

Category-wise, knitwear exports grew by 2 per cent to $4.997 billion during the five-month period, over exports of $4.0899 billion during the corresponding months of the previous fiscal, the data showed.

The exports of woven apparel, on the other hand, declined by 1.26 per cent to $4.693 billion, compared to exports of $4.753 billion in July-November 2013.

Woven and knitted apparel and clothing accessories exports together accounted for around 80 per cent of $12.070 billion worth of total exports made by Bangladesh during the five-month period.

In fiscal year 2013-14, Bangladesh’s clothing exports surged by 13.83 per cent to $24.491 billion, compared to exports of $21.515 billion made in the previous fiscal.

For fiscal year 2014-15, Bangladesh has set an export target of $13.215 billion for knitwear and $13.681 billion for woven garments.

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. US, Germany and the UK are Bangladesh’s top export partners. (RKS)

Fibre2fashion News Desk - India

More Apparel/Garments News - Bangladesh...