Bangladesh’s exports of garments to the United States and the United Kingdom have decreased significantly.

The average production cost has increased from eight per cent to ten per cent every year.

In July-March, the UK economy decreased by 6.82 per cent, Canada’s at 6.441 per cent, Australia’s at 9.47 per cent and Brazil’s at 26.77 per cent.

Export earnings in the last fiscal year 2015-16 amounted to 34,257 million dollars. In the current year 2016-17, export targets have been set to target 37,000 million dollars. Export earnings achieved in July-March of fiscal year 2016-17 are 25,946 million dollars.

During the July-March period of fiscal year 2016-17, export earnings were 16.1 per cent more than the same period last year. The contribution of the sector to the country’s total exports was 41.37 per cent.

In the July-March period, exports of net garments were 4.85 per cent more than the same period last year. During this period, the contribution of the sector to total exports was 39.90 per cent.

During the last ten years, export growth in the garment industry was an average of 13 per cent.

There is fear that if the export growth of the garment industry is not increased, the country will find it difficult to reach export targets.