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RMG exports show signs of revival
20
Apr '10
Overseas sales of garment and other textile products show signs of revival as single month shipment in February increased by 8 percent over the same period last year.

According to Export Promotion Bureau (EPB) statistics, overseas sales in January increased by 3.49 percent, however it declined by 1.29 percent in December of the current fiscal year. Also, overseas sales in February of fiscal 2009-10 earned $1.31 billion, up from $1.21 billion in the same month last year.

However, fears of the country failing to achieve the full-year target sunk in when the overall overseas sales in the first eight months of the current financial year declined by 3.21 percent. In the first eight months, overseas sales by Bangladesh stood at $10.02 billion in contrast to $10.35 billion, in the same period, last fiscal.

According to industry experts, incessant power crisis hindered the manufacturing sector from filling their orders on time. At times they would send the consignment by air at much higher rates, to ensure timely delivery.

Members of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) have blamed power crisis as a key factor hindering growth in exports. They say that, the garment manufacturers don't require power for 24 hours, but, their demand is for uninterrupted power for atleast 8-10 hours each day, so as to help them sustain their already established overseas sales markets.

Due to incessant dearth in power supply, losses are piling up leading to factories lying redundant for long. According to experts, overseas sales of garments account for 80 percent of the overall export earnings, but they were in a downturn in the July-February period of the current fiscal year, excepting for October.

Despite witnessing an increase in the overall overseas sales of garments in February, both woven apparel and knitwear products were below the productive line for the said month, say experts from the Bangladesh Knitwear Manufacturers and Exporters Association.

During the July-February period, woven apparel exports fell by 5.34 percent to $3.71 billion, whereas knitwear exports reduced by 5.75 percent to $4.02 billion.

Fibre2Fashion News Desk - India


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