Bangladesh achieved striking growth in export of readymade garments and other textile products in 2006 as earning by the country's prime industrial sectors grew by more than $2 billion, to $9.2 billion last year.
Industry analysts observe that the confidence of global buyers in Bangladeshi suppliers is growing. The RMG sector increased its production capacity in the quota-free post-MFA regime, and the very competitive prices of Bangladeshi apparels ensured robust growth in export. A calculation in monthly exports' data, provided by the Export Promotion Bureau, shows that with $8,933 million earned by the RMG sector alone, export earning of all textile products in 12 months of the past calendar year was $9,185 million.
In 2006, Bangladesh earned $252 million by exporting other textile products: home textiles fetched $213 million and textile fabrics $39 million. Growth in these categories ranged between 10 and 80 per cent in the second half of the year. Earning of the RMG sector, which is responsible for more than three-fourth of the country's total export revenue, grew by nearly 30 per cent over the year.
In 2005, the first year in the post-Multi-Fibre Arrangement era, garment exports grew by 11 per cent to $6.89 billion. The EPB officially calculates export data in the fiscal year (July-June) format and it has a target of earning at least $9,496 million through RMG sector. The EPB's latest release on Monday said that earning by the RMG sector from July-December of the current fiscal year (2006-2007) reached $4,730 million, growing by 28 per cent over the same period of the previous fiscal year.
marketing@alchempro.com
