Bangladesh's apparel exports gaining strength

17 Nov '11

2 min read

Bangladesh's apparel industry is once again heading in the right direction and a rise has been noted in the industry's exports.

As stated by exporters, per unit prices of garment products have gone up as several global high-end brands have started outsourcing their manufacturing of garment products to Bangladesh.

According to the Export Promotion Bureau (EPB) data, backed by positive performance of the domestic apparel industry, Bangladesh's overall exports registering a rise of 35.41 percent month-on-month grew to US$ 1.95 billion in October this year.

During initial four months of the current fiscal which began on July 1, 2011, the country witnessed a 20.79 percent year-on-year rise in its exports, which grew to US$ 8.11 billion. However, this was still 0.40 percent short of the country's export target of US$ 8.15 billion for the period.

Export growth of some key items like woven garments, knitwear, home textiles, footwear, jute and jute items depicted a downtrend during the period. The country exported woven garments worth US$ 2.93 billion and knitwear worth US$ 3.38 billion during the four-month period, which is indicative of a year-on-year rise of 25.1 and 16.88 percent, respectively.

Commerce Ministry Joint Secretary (export), Monoj Kumar Roy, stated that global markets are still volatile and the export sector of the country needs to be vigilant.

Fibre2fashion News Desk - India

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