Bangladesh witnessed a growth of 12.5 per cent in its apparel
exports to touch US $ 28.4 billion for the July-April FY 19
It is worth noting that the industry had generated a revenue of
US $ 25.3 billion during the same period in the previous fiscal
This was confirmed by Export Promotion Bureau (EPB) provisional
data released recently.
The knitwear products, of the total garment export earnings,
earned US $ 14 billion – 12.3 per cent higher than US $ 12.5
billion generated from the previous fiscal year.
On the other hand, the woven products earned US $ 14.4 billion
in the current fiscal year, which is a 12.8 per cent jump from
what it was in the previous fiscal year (US $ 12.7 billion).
The specialised textile industry too witnessed a rise of 36 per
cent, when it earned US $ 125 million in the current fiscal (it
was US $ 92 million in the last fiscal).
The industry experts have been attributing this growth to
improved working conditions in country’s garment factories.
Moreover, after the elections, there is political stability in
the country, which is also working in country’s favour.
Elaborating on the same, Faisal Samad, Senior Vice-President,
Bangladesh Garment Manufacturers and Exporters Association (BGMEA),
said “Indeed things are bright for the industry, but one cannot
rest assured as the sector is facing tough competition due to
increase in wages and production cost. BGMEA is definitely
working to create more areas of growth.”