Exports of readymade garments from Bangladesh in the first seven months of the current fiscal year have grown due to demand from countries like Australia, Russia, China, Brazil and South Korea. Total apparel exports in the seven months from July 2014 to January 2015 edged up 1.98 per cent in value terms.

Shipments to Australia were up 17.4 per cent, to Japan up 12.5 per cent, to China up 14.7 per cent, to the Russian Federation up 12 per cent, to Brazil up 12.2 per cent, to South Korea up 18.9 per cent, to India up 16 per cent and to South Africa up 16 per cent. In contrast, shipments to the US slipped 3.4 per cent in value.

But while Bangladesh’s total export value is marginally ahead of last year, it still falls short of the target set for the period. For fiscal 2014-15, Bangladesh had set an export target for knitwear and for woven garments. In the seven months knitwear exports are 2.6 per cent ahead of last year, but 2.9 per cent behind target. Woven garment exports are up 1.2 per cent but 5.1 per cent behind plan. US imports from Bangladesh rose for the first time in almost a year in December.