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Garment exports post growth in March
May '10
As per Export Promotion Bureau (EPB) reports, overseas sales of garments in March, increased by 18.38 percent, as compared to the same period last year. This indicates that, the overall garment exports are moving away from negative trends.

The total overseas sales of textiles, during the July-March period, fell by only 0.8 percent as compared to the corresponding period last year. In February alone, garment exports grew by 8 percent.

As per Fazlul Hoque, President, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), in March this year, knitwear exports increased by 15 percent and exports of woven items grew by 13 percent; when corresponded with the same period last year.

Although it is cited that, increase in yarn prices in the global and domestic markets will affect the growth in exports, but this crisis can be averted if the government immediately implements the second revival fund package for the textile sector.

However, Bangladesh is concerned with its competitors such as Pakistan, wherein knitwear exports increased by 20 percent and Vietnam, whose export figures grew by more than 15 percent.

Further more, as per reports, overseas sales in March 2010 amounted to $1.52 billion, an increase by 2.28 percent from figures of the same month last year, which had amounted to $1.28 billion.

But in the initial nine months of 2009-10, Bangladesh exported products amounting to $11.541 billion, which is less, when compared to the same period in the previous fiscal, when it stood at $11.634 billion.

Although, single month garment exports have risen considerably, but meeting targets is yet a distant dream. During the July-March period, exports of knitwear products declined by 3.64 percent from their set target figures. Similar was the case of woven goods that stood 3.04 percent behind its target, said, Abdus Salam Murshedy, President, Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Murshedy feels that, the sudden increase in raw cotton and yarn prices will pose a threat for the country's clothing industry to achieve its target, as producers will be unable to provide apparel goods at lower prices to US and Europe.

Fibre2Fashion News Desk - India

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