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Bangladesh apparel exports up 20 per cent in October

Bangladesh’s apparel exports grew 20 per cent from July to October 2018. Earnings from knitwear exports grew 17.8 per cent in this period. Exports in this segment crossed the strategic target by nearly 17 per cent. Earnings from woven garment exports grew 22.6 per cent in this period. Exports crossed the strategic export target by over six per cent.

On the whole, apparel exports was over 84 per cent of Bangladesh’s export volume in October. Export performance for October 2018 was a huge 30.5 per cent leap on a year-to-year basis. Export items in October were winter garments in majority. In November too there are lots of orders for winter garments. Growth is coming from two factors: a rise in export of Bangladesh’s apparel items due to winter and buyers seeking out a China plus sourcing strategy due to ongoing trade war. Buyers are gradually moving away from China. The void this is creating is huge. But Bangladesh which is next to China still doesn’t have the capacity to fill that void.

In the year ending June, Bangladesh’s garment exports were up 8.8 per cent. The country increased its share of global clothing exports to 6.3 per cent in 2016 from four per cent in 2010.