BANGLADESH: Clothing exporters optimistic about growth
Bangladesh is optimistic it will meet its 2014 garment export targets
Bangladesh's apparel and textile exports are continuing to grow despite the recent political unrest and workplace safety concerns among global buyers, according to the country's exporters.
Mohammed Abdul Jabbar, managing director at DBL Group, said brands such as Hennes & Mauritz (H&M) and Walmart have kept buying. "Orders are just fine...We're sure to record 11% export growth in 2014," Jabbar told just-style. Last year, the company's exports surged by 36% to US$275m, he said.
Speaking about the whole industry, Jabbar argued good planning, new technology and professionalism have helped the US$22bn industry survive through the political unrest sparked by the 5 January elections.
Shipments of knitted and woven items earned Bangladesh exporters US$16bn in the eight months to February of the current financial year, according to the government's Export Promotion Bureau, with exports of knitted products growing 17.5%, while woven products grew 15.92%.
Mahiuddin Faruqui, a vice president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said knitwear manufacturers are set to exceed 2014 export targets.
"We're hopeful - not worried - even when Myanmar emerges as a rival," he told just-style. Faruqui also owns Multifabs Ltd, which turns over more than US$50m annually.
However, Md Shahidullah Azim, vice president of the Bangladesh Garment Manufactures & Exporters Association (BGMEA), said that while there was growth, "buyers have already stopped placing orders in factories running on shared buildings, although they pledged not to pull out in [the next] two years," he said.
He noted that while the industry may hit its 2014 export targets, growth is not "remarkable" enough to hit a touted US$42bn mark by 2020. February year-on-year growth in exports was 9.74%; it was 7.09% in January.
This report analyzes the worldwide markets for Women's and Girls' Clothing in US$ Million by the following Product Segments: Women's and Girls' Dresses, Women's and Girls' Suits & Coats, Women's and G...
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
Future forecasts and historic market data can improve market and strategic planning- Understand which channels and products will be the major winners and losers in the coming years. Know the share of...
The line-up for this year's Prime Source Forum in Hong Kong features senior executives from VF Corp, PVH, Under Armour, New Balance, Adidas and TAL Apparel, who will discuss sourcing in Africa, the im...
This report analyzes the worldwide markets for Sports and Fitness Clothing in US$ Million by the following Segments: Sports Apparel, and Fitness Clothing....
- DENIM DAYS: Jeans innovation bursting at the seams
- Adidas pushing self-governance for suppliers
- How will TPP emerge from fast-track trade bill?
- Rana Plaza two years on: Challenges and concerns
- US fashion industry applauds trade bills package
- Under Armour hailed "next global athletic company"
- Myanmar garment workers strike deal
- Gap’s woes “not so easy to fix”
- Authentic Brands acquires Jones New York
- Orta and Garmon launch denim chemical screening