Garments export increases 11.67 percent
In the current year’s January-March term the export earnings from garments items has increased by 84 crore 25 lakh dollars. It is 11.67 percent higher than the previous year.
A high ranking officer of Banglades Bank said, garments sector of Bangladesh is going on forward though price in the international markets has decreased. This is happening for political stability in the country.
He mentioned that the production has also increased.
According to the central bank’s information, 806 crore dollars were earned through garments export in these three months. It was 721 crore dollars in the same period of the year 2017.
Readymade garments are the main export earning sector of the country. In the last term 85 percent of the total export earnings have come from this sector.
President of Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) Moazzem Hossain said, the foreign exchange that comes from different parts of the world, of those lion portion comes from the readymade garments export.
He mentioned that following government initiatives and concerned authorities involvement the success is achieved. He said, production in this sector is increasing and as a result export earnings are also increasing.
He also mentioned that buyers are getting the most benefits from Bangladesh market. The reason is that at one side production is increasing, on the other hand the exporters are not getting their desired prices.
According to Bangladesh Bank information, about 40 lakh people are working in 4 thousand garments factories. The number was 20 lakh in one decade ago.
USA, Germany, UK, France, Spain, Italy, Belgium, Netherlands and Canada are the main countries that imports readymade garments products from Bangladesh.
In the last quarter the export was 644 crore dollars to these nine countries.