Bangladesh Garment Export Growth
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Bangladesh's ready-to-wear exports rose, while Indian apparel exports continued to show a downward trend.
According to data released by the Export Promotion Bureau (EPB), clothing exports in Bangladesh increased by 8.8% year-on-year to US$1.36 billion in November 2012. Among them, woven garments exported 7.1004 billion U.S. dollars and knitwear exported 6.5396 billion U.S. dollars.
Although Bangladeshi costume tradition buyers European countries are currently in debt crisis, Bangladeshi garment exports still show growth momentum.
In the first four months of 2012-13, exports of woven and knitted garments in Bangladesh increased by 16% year-on-year to over US$6.6 billion.
By contrast, according to the AEPC data, India’s garment exports fell by 0.75% year-on-year in October 2012 to US$907 million.
In the first seven months of fiscal year 2012-13, India’s clothing exports also fell by 9.1% year-on-year to US$7.133 billion.
AEPC attributed the decline in exports to the economic crisis in Western Europe, the United States, and Canada. In addition, there was fierce competition in Bangladesh and Vietnam in the US market and Turkey’s fierce competition in the EU market.