Garment exports rise 3pc in July-March | The Daily Star
12:00 AM, April 08, 2015 / LAST MODIFIED: 12:22 AM, April 12, 2015

Garment exports rise 3pc in July-March

Star Business Report

Garment exports rose 3.16 percent year-on-year to $18.62 billion in the first nine months (July-March) of the current fiscal year, according to Export Promotion Bureau.

Apparel exports have been on the rise as major markets like the US are showing positive signs, said Shahidullah Azim, vice-president of Bangladesh Garment Manufacturers and Exporters Association, the garment makers' platform.

“We needed to grow by 10 percent every month to achieve the target of $27 billion garment export in the current fiscal year,” Azim told The Daily Star by phone. Garment exports to non-traditional markets grew 7 percent year-on-year in the July-March period.

The impact of political unrest would be seen three to four months later when exporters will get their payments, as garment makers bagged fewer than normal orders from retailers between January and March.

Exports rose 7.43 percent year-on-year to $2.59 billion in March, a development which acted as a ray of sunshine amid the gloomy economy.

The figure takes the total export earnings so far in fiscal 2014-15 to $22.90 billion, up 2.98 percent year-on-year.

Exports of other major products like jute increased 6.62 percent to $652.84 million and home textiles 3.47 percent to $592.45 million. Exports of leather goods, however, declined 1.14 percent to $828.36 million. 

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