Home / Knowledge / News / Apparel/Garments / Clothing exports tipped to double next year
Clothing exports tipped to double next year
03
May '11
With a considerable rise in earnings from export of readymade garment's (RMG), it is evident that the prospects of Bangladeshi RMG exports have actually got better.

During the eight months of the 2010-11 fiscal that concluded in March 2011, country's garment exports rose by 40 percent to $14 billion, over corresponding period last year.

Practical estimates project positive times for the Bangladeshi RMG industry, while according to one such estimate, the overall RMG earnings for the next fiscal are projected to grow almost two fold over current fiscal's total estimated earnings to US $35 billion,.

Positive developments like, a one-step generalised system of preference (GSP) for exporting RMG items to the European Union (EU) nations and a two-stage GSP for exporting RMG items to Japan, have formed the basis for such growth.

Further, the rise in country's RMG exports to newly emerging large markets, alongside the EU, Canada and the USA, has also pushed the actual growth.

Also, the EU has changed its rules of origin (RoO), to grant duty-free access to clothing and other finished products produced in the least developed nations to the EU markets, subject to that, these products do not use more than 70 percent of imported raw materials.

This along with soaring cost of labour in other competing nations has boosted Bangladesh's RMG exports.

Bangladesh till now has managed to meet this rising demand through optimum capacity utilisation of the already existing garment firms.

But now, in order to cash in on the soaring demand for RMG items from the conventional as well as new emerging markets, it would require to either enhance its existing capacity, or to establish new facilities, to support higher production.

However, the country needs to expand is production and supply capacity simultaneously in a positive framework of competitiveness, so as to strike a balance between increased demand-supply and improved capacity.

Any shortfall in adequately meeting the demand is likely to lead the Bangladeshi RMG industry to lose the goodwill and buyer's interest, who may turn their back on Bangladesh and hunt for other country suppliers.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 16th Aug 2017

USITC to continue investigations on PSF imports

The US International Trade Commission (USITC) has determined that...

Textiles | On 16th Aug 2017

India’s apparel exports stumble in July 2017

Exports of readymade garments (including those made of cotton,...

Apparel/Garments | On 16th Aug 2017

EU displaces Japan as Myanmar’s largest apparel market

After the reinstatement of Generalised Scheme of Preferences (GSP)...

Interviews View All

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
18.5%
Skip
14.8%

Total Votes: 27

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
37.0%
No
40.7%
Skip
22.2%

Total Votes: 27

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
81.5%
No
7.4%
Skip
11.1%

Total Votes: 27

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
55.6%
No
11.1%
Skip
33.3%

Total Votes: 27


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X