Bangladesh garment exports up 9.4% in July-May

In July-May 2015-16, Bangladesh earned $25.083 billion in garment exports, compared to exports of $22.924 billion in the corresponding period of the previous fiscal, Export Promotion Bureau data showed.

The increase in the value of garment exports was greater than the 8.95 per cent growth shown in overall exports by Bangladesh during the eleven-month period.

Category-wise, knitwear exports rose 6.74 per cent to $11.920 billion in the first eleven months of fiscal 2015-16, as against exports of $11.167 billion during the same months of the previous fiscal, as per the data.

Likewise, exports of woven apparel increased by 11.96 per cent to $13.163 billion during the period under review, compared to exports of $11.757 billion during July-May 2014-15.

Woven and knitted apparel and clothing accessories' exports together accounted for more than 81 per cent of $30.664 billion worth of total exports made by Bangladesh during the period under review.

In the previous fiscal that ended on June 30, 2015, garment exports earned $25.491 billion for Bangladesh, showing an increase of 4.08 per cent over $24.491 billion exports made in 2013-14. Of this, knitwear accounted for $12.426 billion while woven apparel constituted $13.064 billion.

For fiscal 2015-16, Bangladesh has set RMG export target of $27.371 billion, with knitted and woven categories contributing $13.266 billion and $14.105 billion respectively. (RKS)

Fibre2Fashion News Desk – India