Export defies odds

Despite some domestic odds, exports grew 24 percent to $3.02 billion in July, due to higher demand for garment items at competitive prices.
Monthly overseas sales were the highest in the last two fiscal years, surpassing the $2.7 billion target by nearly 12 percent, according to data of the Export Promotion Bureau (EPB).
The prospects of the garment sector are even brighter as the country is becoming more capable to cater to quality garment orders at competitive prices, exporters said.
"Our supply capacity is stronger now. The costs of production by our competitors are higher. So, we are in an advantageous position in business," EPB Vice-chairman Shubhashish Bose told The Daily Star by phone yesterday.
The Tazreen fire and Rana Plaza collapse are two major industrial tragedies that tainted the image of Bangladesh, the second largest garment exporter after China.
“Still, Bangladesh is a lucrative destination for many retailers and brands due to its price competitiveness," Shubhashish said.
In July, knitwear export was up 25.24 percent to $1.25billion on the same month of the last fiscal year. Similarly, woven garment export grew by 27.02 percent to $1.27billion.
"We need not to be worried because we are still a strong player in garment business globally," said Shahidullah Azim, vice-president of Bangladesh Garment Manufacturers and Exporters Association, a platform of garment makers.