DHAKA: The exports rose by 3 percent in August from a year earlier to $2.448 billion, as a rebound in garment orders mostly from the United States offset declining shipments to Europe.
Official data showed that total exports for July-August were up 3.63 percent to $4.887 billion. For the two months combined, exports of ready-made garments totaled $3.996 billion, 4.6 percent more than a year earlier.
No figures were given for August garment exports.
In recent years, there’s been a dramatic shift in global garment orders from China to lower-cost in the country. Europe and the United States account for almost 70 percent of country’s garment exports.
For the financial year ended June 30, garment exports rose 6.6 percent to $19 billion while total exports increased 5.9 percent to $24.3 billion--short of a government’s $26.5 billion target as garment demand from key Western markets waned.
The government set an export target of $28 billion for the fiscal year that began on July 1.
Low labour costs have helped it join the global supply chain for low-end clothing, manufacturing garments for companies such as H&M, Tesco, JC Penney , Wal-Mart, Kohl`s, Marks & Spencer and Carrefour.
BDST: 1810 HRS, SEP 12, 2012
Edited by: Abul Kalam Azad, Newsroom Editor/ M. Mahbub Alam, Asst Output Editor / SM Salahuddin, Output Editor
All rights reserved. Sale, redistribution or reproduction of information/photos/illustrations/video/audio contents on this website in any form without prior permission from banglanews24.com are strictly prohibited and liable to legal action.