RMG producers eye on recovering figures

04 Jun '10

2 min read

Although, garment exports reduced to $9.96 billion during the first 10 months from $10.3 billion in the corresponding period, last year, garment producers are still hoping to bounce back, during the remaining two months of the outgoing financial year.

As per Export Promotion Bureau's reports, exports of apparels, which is Bangladesh's major foreign exchange revenue generator, contributing to the country's net exports, registered 76.96 percent during the period, July-April 2009-10. Of this, 39.59 percent is contributed by knitwear and 37.36 percent is contributed by woven garments and about $13 billion is the earning generated from the total exports.

However, during the same period in the fiscal, 2008-09, apparel sector's contribution was 79.07 percent. Even the state-operated promotional agency informed that exports of apparels displayed a negative growth during the period, under consideration, of the current financial year, excepting for October, March and April. But this negative growth is attributable to world economic downturn.

Export figures for the month of April reveal that knitwear exports registered a hike of 13.53 percent, within just one month, whereas exports of woven goods increased by 15.56 percent. Therefore, a significant recover is expected in May and June too.

As per industry experts, owing to growth in turnover, witnessed in the months of March-April, the last two months of this fiscal will most likely also display even further increase in the sector's exports. More so, with global buyers set to place more orders for garments goods, a positive export increment is also expected in the next fiscal.

A textile manufacturing firm, which is expecting $175 million RMG exports in 2010, pointed to the dearth in energy supply, which was leading to failure in on-time delivery of garment export orders, thereby resulting in the July-April reduction.

Owing to dearth in gas and energy supply, many RMG goods suppliers are facing trouble in meeting with global buyer's orders.

Around all this, birth of some other sectors in the textile industry are also grasping bigger share in the national exports. For instance, jute product exports during the July-April period increased by 69.82 percent to $377.09 million and raw jute exports grew by 44.35 percent to $170.41 million.

Fibre2Fashion News Desk - India

More Apparel/Garments News - Bangladesh...