Bangladesh's garment exports increase marginally in H1

12 Jan '15

2 min read

Compared to 13.83 per cent growth registered in exports of readymade garments in the previous fiscal year, Bangladeshi clothing exports inched up marginally by 0.77 per cent year-on-year in the first half of the ongoing fiscal year that commenced on 1 July, 2014.

Garment exports earned US$ 12.024 billion for Bangladesh in the July-December 2014 period, compared to earnings of $11.932 billion made during the corresponding period of the previous financial year, according to the data released by the Export Promotion Bureau.

Category-wise, knitwear exports grew by 1.9 per cent to $6.061 billion during the six-month period, over exports of $5.948 billion made during the corresponding months of the previous fiscal, the data showed.

The exports of woven apparel, on the other hand, declined by 0.35 per cent to $5.962 billion during the period under review, compared to exports of $5.983 billion in July-December 2013.

Woven and knitted apparel and clothing accessories’ exports together accounted for around 80 per cent of $14.914 billion worth of total exports made by Bangladesh during the first half of the current financial year.

In fiscal year 2013-14, Bangladesh’s clothing exports surged by 13.83 per cent to $24.491 billion, compared to exports of $21.515 billion made in the previous fiscal.

For fiscal year 2014-15, Bangladesh has set an export target of $13.215 billion for knitwear and $13.681 billion for woven garments.

With the presence of more than 5,000 garment factories that together employ nearly 4.2 million workers, Bangladesh is currently the second-largest garment exporter in the world, next only to China. US, Germany and the UK are Bangladesh’s top export markets. (RKS)

Fibre2fashion News Desk - India

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