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Clothing exports post exponential growth
07 Jan '11
2 min read
A rise has been witnessed in Bangladesh's exports over the last six months, which is jointly attributable to the rising demand and recovery from global economic slump.
Country's exports registered a year-on-year rise of 41 percent during the initial six months of current financial year which started on July 1, 2010 and stood at $10.26 billion, as over the corresponding period in 2009.
Last year, in December alone the country had earned $1.99 billion from exports.
Woven garments and knitwear jointly registered a growth of 42.09 percent during the period under consideration, as against the corresponding period in 2009.
While knitwear exports registering a growth of 43.39 percent brought in $4.31 billion to the country's economy, the woven garment exports with a rise of 40.79 percent earned some $3.63 billion for the country during the period under consideration.
A rise in production costs in China coupled with a dearth of garment workers is causing China to lose its markets, and the same has boosted Bangladesh's exports, as many importers have turned from China to Bangladesh. Also, a rise has been witnessed in the country's garment product exports to some new markets, which has helped it to draw more revenues through increased cost, and also to seize newer markets.
Moreover, there has also been a rise in the unit price of the apparel products, which too has contributed to the growth.
Though, globally there has been a rise in the prices of raw materials like cotton and yarn, but the burden of the high cost of inputs has been shifted on the buyers who are paying higher prices for the finished goods, this too has helped the overall growth to sustain at higher levels.
Further, as many of the buyers who initially purchased goods from other competing countries are now turning to Bangladesh. As a result of this, high growth levels are likely to subsist in future also.
Country's exports registered a year-on-year rise of 41 percent during the initial six months of current financial year which started on July 1, 2010 and stood at $10.26 billion, as over the corresponding period in 2009.
Last year, in December alone the country had earned $1.99 billion from exports.
Woven garments and knitwear jointly registered a growth of 42.09 percent during the period under consideration, as against the corresponding period in 2009.
While knitwear exports registering a growth of 43.39 percent brought in $4.31 billion to the country's economy, the woven garment exports with a rise of 40.79 percent earned some $3.63 billion for the country during the period under consideration.
A rise in production costs in China coupled with a dearth of garment workers is causing China to lose its markets, and the same has boosted Bangladesh's exports, as many importers have turned from China to Bangladesh. Also, a rise has been witnessed in the country's garment product exports to some new markets, which has helped it to draw more revenues through increased cost, and also to seize newer markets.
Moreover, there has also been a rise in the unit price of the apparel products, which too has contributed to the growth.
Though, globally there has been a rise in the prices of raw materials like cotton and yarn, but the burden of the high cost of inputs has been shifted on the buyers who are paying higher prices for the finished goods, this too has helped the overall growth to sustain at higher levels.
Further, as many of the buyers who initially purchased goods from other competing countries are now turning to Bangladesh. As a result of this, high growth levels are likely to subsist in future also.
Fibre2fashion News Desk - India
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