Dhaka, Bangladesh (BBN)- Country’s apparel exports increased marginally by 1.72 per cent in the first two months of the current fiscal year (FY) 2014-15 as buyers remain cautious to procure readymade garment (RMG) products from Bangladesh after the Rana Plaza disaster.
The overall apparel exports rose to US$4.23 billion during the two months from July to August from $4.16 billion a year earlier – and missed targets set at $4.59 billion.
Woven garment exports decreased by 1.60 per cent to $2.02 billion during the period under review from $2.06 billion in the corresponding period of the last fiscal while Knitwear exports increased by 4.97 per cent to $2.21 billion from $2.10 billion, according to the Export Promotion Bureau (EPB) statistics.
The country’s overall exports increased by 7.25 per cent to $2.16 billion in August 2014 from $2.01 billion a year ago driven by an increase in the apparel exports and easing slowdown in July, the official data showed.
“We expect that the target will be achieved by the end of the fiscal year if the political stability continues,” an EPB senior official told BBN in Dhaka.
The government has set an export target of $33.2bn for the FY 15, which began on 1 July.
BBN/SSR/AD-19Sept14-8:30 pm (BST)