Bangladesh garment export falls in April

13 May '15
1 min read

Garment exports from Bangladesh fell for the first time in six months, according to the latest government data.

The overall earnings in April 2015 stood at $2.39 billion against $2.41 billion in the corresponding month a year ago marking a 0.55 per cent negative growth. The earnings also fell short of the target by 11.36 per cent, the Export Promotion Bureau data showed.

Earnings from the apparel sector that accounts for 80 per cent of exports rose 2.97 per cent to $20.56 billion in July-April compared with nearly $19.97 billion a year earlier.

Knitwear earnings stood at $10 billion and woven garments fetched $10.55 billion during July-April of the 2014-15 financial year. But both sectors failed to achieve the targets by 6.31 per cent and 4.53 per cent respectively for the period.

Garments are a vital sector for the South Asian nation, whose low wages and duty-free access to Western markets have helped make it the world's largest apparel exporter after China.

Garment exports for the current financial year have been targeted at $26.9 billion, up 10 per cent from previous year's $24.5 billion when clothing sales surged 14 per cent. (SH)

Fibre2fashion News Desk - India

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