Bangladesh's RMG Export Grew Over 3% In Jul-Sept Quarter of 2015

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Bangladesh's RMG Export Grew Over 3% In Jul-Sept Quarter of 2015

Bangladesh's overall exports rose 2.5 percent to US$ 2.6 billion in September from a year earlier, driven by an increase in RMG shipments, government data revealed last week. RMG sector is a key foreign-exchange earner for Bangladesh, where low wages and duty-free access to overseas markets have helped make it the world's second-largest apparel exporter after China. As noted by the Export Promotion Bureau of Bangladesh, for the first quarter of the 2015-16 (Jul-Sept) exports rose nearly one percent to US$ 7.76 billion from the previous year. Sales of ready-made garments, comprising knitwear and woven items, totaled US$ 6.44 billion in the July-September period, up 3.3 percent from the year-earlier period. Exports in the fiscal year ending in June rose 3.35 percent to US$ 31.2 billion from a year earlier, but that was the slowest growth since 2002 and garment sales, while higher, missed their target.