Bangladesh’s readymade garment exports to non-traditional markets recorded a marginal growth in 2014-15. Total export earnings from readymade garment sector also recorded the poorest performance in six years with a 4.08 per cent rise in the just-concluded fiscal while the country’s overall export growth recorded a 13-year low. Knitwear exports were up 3.13 per cent compared to previous fiscal. Woven products saw a five per cent growth.

The country is losing its edge to competitors like Vietnam, Cambodia, India and Pakistan. Buyers are cutting back orders because of political unrest, safety and other compliance issues. Apparel exports to non-traditional markets registered a growth of 8.60 per cent. In fact, growth was 20.99 per cent in 2013-14 and 28.75 per cent in 2012-13. Bangladesh is exploring business opportunities in markets like Mexico, Brazil and Argentina.

The non-traditional market’s contribution increased to 15.33 per cent in the last fiscal which was 14.69 per cent in the previous fiscal while the EU and the US accounted for 60.28 per cent and 20.74 per cent respectively. Apparel exports grew by 37.05 per cent in South Africa, 26.33 per cent in China, 23.88 per cent in Australia and 14.02 per cent in Japan while it declined by 21.57 per cent in Turkey.