Bangladesh: RMG exports boom
As a result of global economic recovery, coupled with China's ballooning labour cost and currency appreciation against dollar, the local garments industry is set for hitting a high growth track in the current fiscal, said industry insiders.
Egytex News Desk
Source: www.yarnsandfibers.com
Accordingly, China's competitiveness is declining and global buyers to Bangladesh that helped local exporters in bagging enhanced rate of export orders. Reputation in producing high quality but low cost garments helped Bangladesh to gain buyers.
Moreover, available official data shows that garments export marked a significant rise of 30 % ($644.9 million) during the first quarter of the ongoing fiscal compared to the same period of the last fiscal.
Bangladesh fetched $3971.52 million from the shipments of readymade garments (RMG), while it was $3030.76 million in the same period of the previous fiscal.Meanwhile, in a bid to execute import orders many of the global reputed retailers have already opened their buying offices in Dhaka.
Source: www.yarnsandfibers.com
From the Egytex news archive, first published on 1 November 2010. Figures and names are as reported at the time.
