Exporters of Tailor Made Garments and Stocklots

Bangladesh registers 40 percent growth in apparel exports and orders exceed capacity

The global recession is now at an end and with it has come good tidings, one after another for the Bangladesh readymade garment industry. Following a shift from China, new destinations such as Japan, South Africa, Canada, Australia, New Zealand and some Latin American countries, has sprouted. Even India has become a new importer of Bangladeshi garments.

The readymade garments industry was already doing well and even in the recession of 2008-09 it became the largest exporting nation to the EU and one of only two countries to register a growth – the other being the UAE. Now with an end to the recession, orders are exceeding capacity so much so that the industry experienced a 40% growth within the last 6 months.

The higher costs of China and the EU’s relaxed rules of origins mean that the industry will continue to grow rapidly within the next few years. Buyers are flocking in and newer and larger units are being developed. Even the higher cost of cotton and yarn are being compensated with better prices.

The readymade garment and knitwear exports are the highest export earners of the country and the annual export target has been set to $18.5 billion for the fiscal 2010-2011.

Categories: News

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