In fiscal year ’18 Bangladesh’s export earnings from the apparel sector grew 8.76 per cent. Earnings from knitwear products were 10.40 per cent higher. Earnings from woven products were up by 7.18 per cent. Bangladesh’s overall export earnings rose 5.8 per cent in fiscal ’18 compared to earnings the previous year.

In the last couple of years, global retailers were slow to place orders due to ongoing safety inspections in the apparel sector. But in the last fiscal, they changed their mindset as the inspection has almost come to an end and significant progress has been made. As a result, export earnings have seen a rise.

However, even though exports have grown over the previous year its contribution to GDP is dipping. Delivery lead time has to be reduced. Port capacity has to be increased to ensure smoother shipment of finished goods. Airfreight capacity has to be increased as well to ensure quick delivery of sample goods and accessories from the airport.

Other steps are product and market diversification. A move toward value added products would increase export earnings. A strong double digit growth in export earnings is needed to meet the expenses of development projects.