There has been a marginal rise of 0.85 percent in Bangladesh's ready-made garment (RMG) exports to the US during the initial seven months of the current fiscal.
The July-January period saw the country's exports to the US, its biggest export market, grow by US$ 22 million to US$ 2.602 billion, which is little higher than exports worth US$ 2.58 billion achieved during the corresponding period of last fiscal.
The sluggish growth in RMG exports is mainly attributed to financial crisis in the US market.
According to experts, in spite of the US being one of the key RMG markets, Bangladesh's exports to that market are not growing, which is a matter of concern for Bangladesh, as one-fourth of its RMG exports are towards the US.
They aver that over the past few months, Vietnam has obtained a major share in the US market, but Bangladesh has not been able to increase its share.
Hence, they suggest that Bangladesh Government must set up its diplomatic missions in other foreign countries so boost its exports in other markets.
Fibre2fashion News Desk - India
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