Bangladesh’s ready made garment (RMG) sector saw exports increase 12.59% in the nine months from July to April 2019 compared to the year earlier, new figures show.
Readymade garment exports totalled US$28.5bn in the period, up from $25.3bn last year, according to the country’s Export Promotion Bureau.
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Knitwear exports were also higher, climbing 12.32% to $14.1bn, while woven garment exports were 12.85% higher at $14.4bn.
Cotton and cotton product shipments grew by 15.35% in the period to $108.2m.
At a recent summit, manufacturers in Bangladesh were told to move away from focusing on volume production and focus instead on meeting demand for value-added products. The call was made as concerns are rising about the future of its garment exports once the country graduates from least developed country status in 2024, a status under which it currently enjoys duty-free access to the European Union, Canada, and Japan.
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The US Department of Commerce’s Office of Textiles and Apparel (OTEXA) in its report for March indicated the highest apparel shipments into the US came from Bangladesh at a 25.31% year-on-year increase to 195m SME.
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