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RMG export sees a new high

26
Dec '06
Bangladesh ready made garment (RMG) sector is showing very good export figures.

Sources from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) revealed that the export earning from US is likely to cross $3 billion mark in 2006.

Bangladeshi apparels are now more price competitive than other those of suppliers. The re-imposition of US quota restriction on certain categories of Chinese garment in mid 2005 proved to be a boon for Bangladesh's apparel sector and helped the exports a robust growth in the current year.

The figures of US Department of Commerce shows that Bangladesh's apparel exports to the US stood at about $2,485 million during the January to October period.

Statistics show that country's apparel exports stood around $7.9 billion which is about three-fourths of the total $10.5 billion export portfolio in the past financial 2005-06 year.

33 percent of the country's total export goes to the US buyers while the European Union as a group absorbs nearly 55 percent.


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