Dhaka, Bangladesh (BBN) – Woven garment exports fell by 4.14 percent in July last as slowdown in the shipment of apparel items to different markets including the US following the ongoing workplace safety issues in Bangladesh.
Woven garment exports came down to US$1.21 billion in July, the first month of the current fiscal year (FY) 2014-15 from $1.26 billion in the same period of the last fiscal while knitwear exports increased by 4.32 percent to $1.31 billion from $1.25 billion, according to the state-run Export Promotion Bureau (EPB) statistics.
“We’re hopeful about increasing the woven garment exports shortly as sourcing countries are still enjoying competitive prices due to lower labour wages,” an EPB official said. “The EPB is expecting that the country’s overall export target will be achieved by the end of the FY 15,
if the political stability continues.”
The country’s low labour costs have helped it secure business from global apparel brands and retailers like Gap, Tesco, JC Penney, Wal-Mart, H&M, Kohl’s and Marks & Spencer.
Bangladesh government has set an export target of $33.2 billion for the FY 15, which began on 1 July.
BBN/SSR/AD-13July14-2:03 pm (BST)
