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March clothing exports peak with a massive surge
12
Apr '11
Following a continuous shift in production from China to the comparatively cheaper South Asian country, Bangladesh's exports registered a year on year rise of around 41 percent in March this year to touch a record high of $2.14 billion.

According to the Export Promotion Bureau of Bangladesh, the country's exports for the initial nine months of the current fiscal year which started on July 1, 2010, exceeded the set-target and grew by 40.3 percent to over $16 billion.

Meanwhile, backed by the revival from the global economic slump, Bangladesh's ready-made garment (RMG) exports to the Europe and the US, which account for nearly 70 percent of the country's foreign sales, have been witnessing a rise since 2010.

The vigorous export figures of March pointed towards cheap labour in the country, which persuaded some of the apparel producers to shift from China to Bangladesh.

Moreover, the country is also experiencing a rise in the orders from newer markets like India, Japan, China, South Africa, Canada, India, New Zealand and Australia. Low-cost labour has helped Bangladesh to join the international supply chain for low-end textiles and apparels.

Bangladesh now supplies garments to leading global brands like Wal-Mart, Kohl's, H&M, JC Penney, Carrefour and Marks & Spencer. Besides, Esprit Holdings Ltd has proposed shifting considerable number of orders from southern China to Bangladesh.

Fibre2fashion News Desk - India

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