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 22nd Jun 2017

Zund unveils cradle feeder roll-feed system for fabrics

Zund Systemtechnik AG, Switzerland’s textile machinery firm that...

Textiles | On 22nd Jun 2017

Hpfabrics opening production facility in Forsyth County

Hpfabrics, manufacturer of raw fabrics, is opening a new production...

Courtesy: Napapijri

Apparel/Garments | On 22nd Jun 2017

Napapijri's Superlight Parka is free of fur and down

Napapijri has introduced the new Superlight Parka, a new lightweight...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


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