Home / Knowledge / News / Apparel/Garments / IMF predicts single digit growth in apparel exports
IMF predicts single digit growth in apparel exports
14
Nov '08
The International Monetary Fund (IMF) has recently forecast that there is a likelihood of growth rates in apparel export industry dropping in to single digits in the current fiscal (July-June) in Bangladesh due to the global recessionary trends which is a fallout of the financial meltdown. The IMF team is in Bangladesh to assess the impact of the financial crisis on the country.

IMF also said that GDP growth can also be expected to fall to 5.5 percent, instead of the 6.5 percent actually projected by the government. IMF has warned of adverse effects on the country's booming apparel export industry, other than the export growth rate figure sliding to around 9 percent.

The garment export industry has recorded a growth of between 14-21 percent in the last four fiscals except for in 2002-03 when it dipped to 9.39 percent. According to statistics released by the Export Promotion Bureau garments have clocked exceptional growth in the first two months of the current fiscal. Knitwear garments have grown by 52.84 percent and woven garments by 35.55 percent.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Larry L Kinn
Suominen Corporation

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

Paolo Ocleppo
Sandvik Hyperion

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

Eric Scholler
Groz-Beckert

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search