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Apparel export growth slumps due to labour unrest
21 Dec '06
1 min read
Apparel exports have fallen from 31.49 percent in September 2006, even though there has been 22.7 percent elevation to $3.34 billion in the period between July and October. Exporters held the labour unrest of May 2006 responsible for slump in growth.
S M Fazlul Hoque, President, Bangladesh Garment Manufactuers and Exporters Association, stated that due to unrest, global firms hesitated to buy from the country, hence the garment industry lost big export orders. They were diverted to competitor country Vietnam, whose export orders rose 40 percent in this period.
Sources informed that during October, growth in exports of woven clothes decreased from 31 percent to 22.7 percent and knitwear slowed down from 35 percent to 30.14 percent. Both these bring in maximum foreign exchange.
Exports of home textiles, handicrafts, ceramics, petroleum by-products and shoes shot up during the same period, while that of jute products dropped. Unrest has caused much damage to the apparel sector.
S M Fazlul Hoque, President, Bangladesh Garment Manufactuers and Exporters Association, stated that due to unrest, global firms hesitated to buy from the country, hence the garment industry lost big export orders. They were diverted to competitor country Vietnam, whose export orders rose 40 percent in this period.
Sources informed that during October, growth in exports of woven clothes decreased from 31 percent to 22.7 percent and knitwear slowed down from 35 percent to 30.14 percent. Both these bring in maximum foreign exchange.
Exports of home textiles, handicrafts, ceramics, petroleum by-products and shoes shot up during the same period, while that of jute products dropped. Unrest has caused much damage to the apparel sector.
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