Bangladesh: RMG export earnings up by 21 percent

Market News

Bangladesh: RMG export earnings up by 21 percent

Despite tragic incidents in Bangladesh garment factory, export earnings from apparel products during the Nov-July period of fiscal year 2013-14 grew by more than 20 % compared to the same period last fiscal. Export receipts from knit products stood at $4.89 billion during the July-Nov period , registering a 20.48 % growth comparing to the period last fiscal.

Woven products registered a 21% growth this fiscal. Export earnings month-to-month saw a dip since October. The exporters cited the Rana Plaza collapse, Tazreen fire incident, labor unrest and more as the reason for the slowdown of earnings. Export earnings from knit items stood at $1.25 billion in July, $848.25 million in August, $1.05 billion in September, $862.01 million in October, $877.61 million in November this year.

Woven items fetched $1.26 billion in July, $796.05 million in August, $985.26 million in September, $820.49 million in October and $889.35 million in November. Export earnings witnessed a growth of 18.02% during the period with earnings of $11.95 billion which was $10.13 billion during the corresponding period of the last fiscal.