BANGLADESH: Knitwear exports turn positive in October
Bangladesh's knitwear export moved into positive territory in October, amid signs that global buyers are slowly increasing their orders.
Knitwear exports rose by 1.11% to US$3.4bn during the July-October period of the current fiscal year 2013, compared with the same period last year.
Woven garment exports accounted for $3.22bn, up 9.49% according to statistics from the state-run Export Promotion Bureau (EPB).
Knitwear exports in July fell 0.68% year-on-year, with negative growth rising to nearly 13% and 1.54% in the July-August and the July-September periods respectively.
"It's a good sign for the industry but is not up to expectations," Fazlul Hoque, former president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), told just-style on Friday (23 November). "We're still searching new markets for our exports."
Exports of knit products have missed targets since November 2011 and saw sluggish growth during the second half of fiscal 2012 as the global economic slowdown hurt the key US and Europe markets.
Hoque, who is also the proprietor of Knit Fashion, said the upward trend in knitwear exports may continue in the coming months due to seasonal demand.
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