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Bangladesh apparel exports up 12 per cent this fiscal

Bangladesh’s apparel exports rose 12.82 per cent in the first eleven months of the current fiscal year. Earnings from woven products were up 13.13 per cent from the same period of the previous fiscal year. Earnings of the specialised textile sector saw a 33.79 per cent growth.

Since the three months from December to March are the peak season for apparel shipment, future prospects are even higher and brighter. The capacity of the country’s garment sector has also increased. On the back of value-added products, product diversification, policy support and capacity enhancement, Bangladesh’s readymade sector is maintaining a positive trend in export earnings. The cash incentive for selling in non-traditional markets has helped achieve a two-digit export growth rate. China, the world’s largest apparel supplier, has started importing products from Bangladesh and grants duty-free access to over 5,000 Bangladesh products. This has enhanced export growth of the apparel sector. The inspection by Accord and Alliance has helped remediate factories and prompted factory owners to emphasise workplace safety, which has eventually lifted the country’s image in the eyes of foreign buyers. Of the top ten green garment factories in the world, seven are located in Bangladesh. Eighty green garment factories currently in operation are completely LEED -certified and another 300 are in the process of getting the certification.

 
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