Garment exports from Bangladesh are certain to rise in the near future, as the garment producers in the country have already booked higher number of orders than earlier.
A majority of the garment firms are already having orders to keep them busy for next several months. This is mainly attributable to the shift of several global buyers from China, the world's biggest apparel sourcing destination, to Bangladesh.
Also, the relaxation granted by the European Union in its Rules of Origin (RoO) under the generalised system of preferences too is likely to boost the apparel exports from Bangladesh.
Furthermore, the country has even emerged with some high-end products to source some new markets like that of Japan.
As per the government statistics, the country's knitwear exports grew by some 43.22 percent during the initial seven months of the current financial year that started from July 1, 2010, to $5.07 billion, over the corresponding period during the last fiscal. Also, a rise of 39.09 percent was noted in its garment exports which grew to $4.38 billion, during the period under consideration.
The industry experts believe that, this trend of rise in the garment exports is likely to continue in the coming few months also, as with China's rising production cost, global buyers are now shifting to Bangladesh in higher number.
Also, many of the garment producers are now working on capacity expansion, with higher number of global buyers coming to the country with sizeable orders.
Fibre2fashion News Desk - India
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