Readymade garment export from Bangladesh slowing down

Readymade garment exports from Bangladesh are although growing, but at a slower pace in the current fiscal year, the latest government data shows. According to Export Promotion Bureau data exports aggregated USD$22.92 billion during the eleven months up to May 2015, registering an increase of 3.4 per cent over the exports of US$22.18 billion in the same period of the previous fiscal. US, Germany and UK were the top markets for Bangladeshi garments.

In 2013-14, clothing exports from Bangladesh had surged 13.8 per cent to US$24.49 billion, compared to US$21.52 billion in 2012-13. For 2014-15, the export target was set at US$13.22 billion for knitwear and US$13.68 billion for woven garments.

During the first 11 months of 2014-15, knitwear exports were up 2.3 per cent at US$11.17 billion from US$10.92 billion in the corresponding months of the previous fiscal. Similarly, exports of woven apparel increased 4.4 per cent to US$11.76 billion during the eleven-month period, compared to exports of US$11.26 billion during the same period of 2013-14.

Woven and knitted apparel and clothing accessories’ exports together accounted for 81.5 per cent of the total exports during the 11-month period. Garment exports grew at a slightly faster pace compared to the aggregate 2.8 per cent during the period.