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Bangladesh’s December apparel exports increase 15 per cent

As per latest data released by Bangladesh Export Promotion Bureau, Bangladesh’s apparel exports increased by over 15 per cent in December, plagued by a spate of labor unrest and factory shutdowns. The apparel export receipt stood at over $17.8 billion during the July-December period, gaining over 15.6 per cent on a year-to-year basis. For December alone, export receipt was $2.9 billion.

Further data analysis shows growth declined from 18.5 per cent in November, due to labour unrest. Export exceeded the strategic target (as set by Bangladesh government) of $15.7 billion by more than 8.5 per cent. Knitwear exports witnessed a receipt of $8.6 billion, a gain of almost 14 per cent. For the month of December alone, knitwear segment fetched about $1.3 billion, making up 45 per cent of the total apparel exports.

Woven segment on the other hand witnessed a receipt of $8.4 billion during the same period, a gain of over 17 per cent. For December alone, the segment made up 55 per cent of the basket with $1.6 billion in receipt.

All exports combined, Bangladesh’s total exports amounted to $3.4 billion for December, making a marginal gain of 2.8 per cent. Apparel exports accounted for over 85 per cent of the total exports in December 2018.