Bangladesh Garment Exports Sustain Growth Momentum

Bangladesh’s knitwear and woven garment exports were able to sustain growth momentum during the initial five months of the current fiscal that began on July 1, even though the eurozone crisis has started affecting the Bangladeshi industries and exports of some of the sectors witnessed a fall due to declining orders from European nations.

Bangladesh’s knitwear exports grew to four billion USD during July-November period, registering a rise of 13.14 percent year-on-year, the Export Promotion Bureau statistics showed. Woven garment exports during the period grew to US$ 3.57 billion, registering a rise of 23.64 percent year-on-year.

However, the country’s overall exports slumped by 18 percent to US$ 1.60 billion in November compared to previous month. Although this was 2.4 percent more when compared to November 2010, it failed to meet the monthly target by 16.95 percent.

Based on the latest data, the Commerce Ministry claimed that they have yet not missed on the export growth target and in spite of overall fall in exports, if the country’s key sector continues to post positive export growth till close of the current fiscal, they would be able to achieve their export target for the year.


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