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Boost in apparel exports between July & November
09
Dec '10
The recently revealed Export Promotion Bureau (EPB) statistics highlight that the country's overall export revenues for the initial five months of the current financial year which started from July 1, 2010 have grown by around 36 percent to $8.27 billion, as over the corresponding period last year.

While the country's leading foreign exchange earner, knitwear exports, grew by around 37 percent to $3.53 billion, the woven exports too registered a year-on-year rise of 36 percent to touch $2.88 billion.

In the month of November itself the country's total exports grew by around 30 percent to $1.55 billion, as compared to the corresponding period last year, the data revealed.

According to an expert, this rise in the apparel exports is mainly because more and more international consumers have decided to import apparels from Bangladesh instead of China, the biggest supplier of apparel, across the world.

High cost of production is causing China to lose its competitiveness. Further while China is losing ground globally, the Bangladeshi apparel and knitwear exporters are likely to gain more orders and prosper further when they get access to some of the new markets like South Africa, he added.

He revealed that Bangladesh is witnessing a considerable rise in the demand for jeans and denim products and T-shirts currently as China is losing its customers to Bangladesh.

Bangladesh has a bright future, considering which the country needs to pay immediate attention to issues like resolving the infrastructure as well as energy sourcing problems and raising the competency of the ports.

Fibre2fashion News Desk - India

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Courtesy: H&M

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