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Woven garment and knitwear export rise in Oct-Mar '06

16
May '06
Woven garments exports rose by 23 percent and knitwear by 38.58 percent during October-March period of current fiscal.

This became possible due to the US and the EU's imposing of safeguard measures against China to restrict entry of its garment and textile items into their markets from mid-2005.

According to Export Promotion Bureau's (EPB) statistical analysis, woven garment export declined 4.67 percent, while knitwear export increased 22.31 percent during nine months from January 2005 in post-Multi Fibre Arrangement (MFA) period.

Woven garment export growth took place due to 34.87 percent export growth in the US market, fetching $953 million (95.30 crore) during last six months, according to EPB.

Garment export growth was witnessed not only in the US market but also in the EU market due to restrictions imposed against China, Bangladesh Garment Manufactures and Exporters Association's (BGMEA) former President Annisul Hoque said.

However, he said, "We would be facing hard time after 2008. We are surviving with the volume of exports, although the margin has reduced."

Garment export has gone up due to imposition on some categories of Chinese items coupled with failure of Chinese exporters to maintain quality of their products, said Anonya Raihan, Executive Director of D.net, a research organization.

India's input for its industries has increased their competitive advantage and this may reduce country's export growth after 2008.

Araf Group Director Naimul Bashar Chowdhury said, "The woven exporters increased their production capacity in an unplanned way to maintain the high export growth, which will create problems during the rough time."

Asian Development Bank (ADB), has projected several medium-term downslides and long-term uncertainties for Bangladesh due to impact of MFA phase-out.

These would occur from 2008 onwards, after temporary safeguard quotas for China expires, the report added.


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