Garment exports from has gone up 4.08 per cent in fiscal 2014-15. Knitwear exports increased 3.13 per cent year-on-year while woven shipments grew five per cent. Export earnings from the apparel sector were 5.24 per cent below annual target. Over 80 per cent of the country’s export earnings come from the garment sector, which was able to reach its target of annual export earnings only once e in 2013-14, in the last four years.

Exporters blame the fall in earnings on the shipping problems caused by the political crisis in January-March. Moreover the devaluation of major currencies—dollar, ruble and euro—is also responsible for the shortfall in target. Overall exports rose 3.35 per cent year-on-year in 2014-15, though the amount was well below the year’s target. Exports surged in June, the last month of the fiscal year, an increase of seven per cent from the previous month and an 8.68 per cent growth from a year earlier.

Jute and jute products exports grew 5.34 per cent year-on-year, home textiles 1.49 per cent, and leather and leather goods 0.56 per cent. Frozen foods declined 10.99 per cent year-on-year and furniture fell 8.55 per cent in fiscal 2014-15.