RMG exports grow 30pc in Q1
Apparel exports grew by more than 30 percent in the first quarter of the current fiscal year, riding on high demand for the competitively priced item.
Export Promotion Bureau data show $2.18 billion knit exports and $1.79 billion woven during the July-September period, which are 32 percent and 30 percent more than in the same period a year earlier.
Jalal Ahmed, vice-chairman of EPB, said export of garment items
is increasing in three new
destinations -- Japan, South Korea and China.
The growth in garment exports to those countries is good, he said. Only the export of leather may be hampered because the number of cows slaughtered in Bangladesh has marked a decline recently due to anthrax scare,
he added.
Price factor mainly contributed to such a commendable growth in apparel exports, observed David Hasanat, chairman and managing director of Viyellatex Group.
"We did well even during the recession period, as a result, we got a good exposure also in the international market for which Bangladesh is bagging more orders," he said.
Demand for garment items in the western world is also growing with the signs of recovering recession, he said.
Salim Osman, president of Bangladesh Knitwear Manufacturers and Exporters Association, said the higher cost of labour in China has become a boon for Bangladesh. Moreover, China is suffering from a shortage of workers in the readymade garment sector, he added.
"But the continuation of such growth in the export of garment items is largely depending on improvements in the supply of gas and power to the industrial units and stable cotton prices globally," Osman said.
Abdus Salam Murshedy, president of Bangladesh Garment Manufacturers and Exporters Association, said higher exports to some new destinations like Japan and India have contributed considerably to the overall RMG exports. The growth in exports to these new destinations is around 350 percent, he pointed out.
But, the turnaround time at Chittagong Port should be reduced at any cost to maintain the lead-time set by international buyers, he added.
During July-September, Bangladesh exported home textiles of $55.21 million, raw jute $154.3 million, jute goods $45. 93 million, terry towels $76.98 million, footwear $142.60 million, frozen foods $121.91 million, shrimps $28.49 million, bicycles $16.73 million, vegetables $64.39 million, leather $12.67 million and leather products worth $10.13 million.
The overall exports stood at $5.02 billion in the period, registering a 30 percent growth over the same period a year ago.
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