Bangladesh RMG exports up 2.16% in July-May 2016-17

08 Jun '17
2 min read

Readymade garment exports from Bangladesh increased by 2.16 per cent year-on-year during the first eleven months of the current fiscal 2016-17. In July-May 2016-17, Bangladesh earned $25.624 billion from garment exports compared to exports of $25.083 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 3.67 per cent growth registered in overall exports by Bangladesh during the eleven-month period.

Category-wise, knitwear exports rose 4.91 per cent to $12.504 billion in the first eleven months of fiscal 2016-17, as against exports of $11.920 billion during the same months of the previous fiscal, as per the data. Germany was the largest importer accounting for $2.573 billion of all knitwear exported from Bangladesh, followed by the United Kingdom with imports of goods valued at $1.519 billion.

However, exports of woven apparel decreased by 0.33 per cent to $13.119 billion during the eleven-month period under review, compared to exports of $13.163 billion during July-May 2015-16. The United States was the largest importer with $3.547 billion worth of woven clothing supplied by Bangladesh. Germany and the United Kingdom procured woven apparel valued at $2.163 billion and $1.489 billion, respectively.

Woven and knitted apparel and clothing accessories’ exports together accounted for 80.60 per cent of $31.790 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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