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Bangladesh garment exports up 2.21% in July-April FY17

10
May '17

Readymade garment exports from Bangladesh increased by 2.21 per cent year-on-year during the first ten months of the current fiscal 2016-17. In July-April 2016-17, Bangladesh earned $23.137 billion from garment exports compared to exports of $22.636 billion in the corresponding period of the previous fiscal, Export Promotion Bureau data showed.

The increase in the value of garment exports was lower than the 3.92 per cent growth registered in overall exports by Bangladesh during the ten-month period.

Category-wise, knitwear exports rose 4.81 per cent to $11.254 billion in the first ten months of fiscal 2016-17, as against exports of $10.737 billion during the same months of the previous fiscal, as per the data. Germany was the largest importer accounting for $2.343 billion of all knitwear exported from Bangladesh, followed by the United Kingdom with imports of goods valued at $1.368 billion.

However, exports of woven apparel decreased by 0.14 per cent to $11.883 billion during the ten-month period under review, compared to exports of $11.899 billion during July-April 2015-16. The United States was the largest importer with $3.207 billion worth of woven clothing supplied by Bangladesh. Germany and the United Kingdom procured woven apparel valued at $2.007 billion and $1.347 billion, respectively.

Woven and knitted apparel and clothing accessories’ exports together accounted for 80.55 per cent of $28.721 billion worth of total exports made by Bangladesh during the period under review.

In the previous fiscal that ended on June 30, 2016, garment exports earned $28.094 billion for Bangladesh, showing an increase of 10.21 per cent over $25.491 billion exports made in 2014-15. Of this, knitwear accounted for $13.355 billion while woven apparel constituted $14.738 billion.

For fiscal 2016-17, Bangladesh has set apparel export target of $30.379 billion, with knitted and woven categories contributing $14.169 billion and $16.210 billion respectively. (RKS)

Fibre2Fashion News Desk – India

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