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RMG exports to attain heights by year end- Expert
03 Feb '10
2 min read
As the global economy started witnessing recovery, international orders for Bangladeshi readymade garments are regaining their volumes, thereby increasing contribution of apparel items in national exports, as per the trade data of Export Promotion Bureau.
During July-November, the county shipped $2.13 billion of woven garments and $2.59 billion of knitwear products, for a total of $4.72 billion. Overall national exports amounted to $6.10 billion, of which, woven garments contributed 34.84 percent while knitwear items including sweater contributed 42.34 percent.
In fiscal 2008-09, share of RMG in overall exports was 79.33 percent with woven items making up for 38.02 percent and knitwear products 41.30 percent. During that fiscal, the exports of woven garments and knitwear items stood at $5.92 billion and $6.43 billion, recording growths of 14.54 percent and 16.48 percent respectively, against previous year exports.
Considering the ongoing trend of export orders for Bangladeshi garments, it has been estimated that these exports will again attain heights by the end of the year. But, the products are still commanding low prices from the buyers, said an expert.
Abrupt increase of 25 percent in cotton prices in international market and yarn price rise in the local market by 30 percent are industry's major issues of concern as the Free on Board (FoB) value remained as it is, said Mr. Abdus Salam Murshedy, President Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
Besides, low gas supply to the garment manufacturing plants results into delay in production, leading to a failure in maintaining lead-times, added the President.
During July-November, the county shipped $2.13 billion of woven garments and $2.59 billion of knitwear products, for a total of $4.72 billion. Overall national exports amounted to $6.10 billion, of which, woven garments contributed 34.84 percent while knitwear items including sweater contributed 42.34 percent.
In fiscal 2008-09, share of RMG in overall exports was 79.33 percent with woven items making up for 38.02 percent and knitwear products 41.30 percent. During that fiscal, the exports of woven garments and knitwear items stood at $5.92 billion and $6.43 billion, recording growths of 14.54 percent and 16.48 percent respectively, against previous year exports.
Considering the ongoing trend of export orders for Bangladeshi garments, it has been estimated that these exports will again attain heights by the end of the year. But, the products are still commanding low prices from the buyers, said an expert.
Abrupt increase of 25 percent in cotton prices in international market and yarn price rise in the local market by 30 percent are industry's major issues of concern as the Free on Board (FoB) value remained as it is, said Mr. Abdus Salam Murshedy, President Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
Besides, low gas supply to the garment manufacturing plants results into delay in production, leading to a failure in maintaining lead-times, added the President.
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