BANGLADESH: Woven garment exports up 12% in H1
Bangladesh's woven garment exports grew by nearly 12% in the first half of the current fiscal year, helped by a shift in orders from China, exporters said.
Woven garment exports rose to US$4.971bn during the six months from July to December, up from $4.457bn in the same period of the previous year.
Knitwear accounted for $4.976bn, a rise of 3.85%, according to statistics from the state-run Export Promotion Bureau (EPB). Knitwear exports moved into positive growth in October, amid signs that global buyers are slowly increasing their orders.
The country's overall exports grew by 7.01% to $12.60bn during the half-year, despite the economic slowdown in the European Union (EU) and the US.
The government has set an export target of $28bn for fiscal year 2013, which began on 1 July 2012.
"We're hopeful about achieving the export target by the end of this fiscal year if the trend continues," a senior official at the EPB told just-style. "We're working continuously to diversify products and markets to increase our exports."
"We're receiving a lot of orders from buyers, who are drifting away from China due mainly to higher labour costs there," Fazlul Hoque, former president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), told just-style.
He also said both the government and garment makers are now trying to explore new markets such as Japan, China, India, Russia, Australia, Brazil and South Africa to further boost the country's export earnings.
Some 200 companies have now signed the Accord on Fire and Building Safety in Bangladesh following the collapse of the Rana Plaza factory building in Dhaka, which killed more than 1,100 people in 2013....
In 2008, the US-based multinational company Wal-Mart Stores acquired the Chilean hypermarket, supermarket and retail company D&S, which already owned more than 250 stores across the country. Every yea...
Unveiling a new five-year plan to improve worker safety at the factories in Bangladesh that produce their clothing, North American brands and retailers were keen to stress the similarities between the...
Wal-Mart de México SAB de CV is the leading and most influential chained grocery retailer in Mexico. The company’s strategy is based on offering a wide range of products at affordable prices. Conseque...
A group of leading North American retailers and brands - led by Wal-Mart and Gap - have committed more than $142m in funding and low interest loans to help improve factory safety conditions for garmen...
The most-read stories on just-style this week include the launch of Nike's new app to help designers focus on sustainability, mounting pressure for Gap and Walmart to join the safety accord, and a loo...
Labour rights groups are continuing to put pressure on retail giants Gap and Walmart to join the Bangladesh Safety Accord, with weekend demonstrations organised outside their stores in 35 cities acros...
Companies representing more than a third of UK clothing sales have signed the Sustainable Clothing Action Plan (SCAP) 2020 Commitment, a scheme that will see them work together to reduce the environme...
- Why should brands care about China cotton?
- New Gap CEO set to tackle “aesthetic issue”
- Low labour cost countries linked to highest risks
- China cotton: implications and opportunities
- Falling euro adds to Bangladesh production woes
- M&S Asia head quits as China stores to close
- Gap names new design head amid mixed Q4
- JC Penney share price falls on Q4 loss
- Pay rise mulled for Sri Lanka garment workers
- US labour concerns at Honduras apparel makers
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Outdoor performance apparel: peaks, valleys, and green fields
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Global market review of swimwear - forecasts to 2019