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Bangladesh apparel export earnings up 14 per cent

Bangladesh's export earnings from apparel products during July-May fiscal year 2013-14 grew by more than 14 per cent over the corresponding time of last fiscal. Export receipts from apparels, including knit and woven items, stood at $22.17 billion during the first 11 months of the outgoing fiscal up from $19.31 billion in the corresponding period of the last financial year.

Export earnings from apparel products are expected to reach $24.75 billion at the end of current fiscal. Knit products showed a 16.28 per cent growth. Woven products showed a 13.46 per cent growth. If the same trends continue in the next fiscal, the country expects a lot more investment from entrepreneurs to come in. However, export of jute and jute products witnessed negative growth during the period. Earnings from leather, leather goods grew by 29 per cent.

However, apparel exports are facing numerous problems as buyers are not increasing products' prices. Many factories have closed due to western retailers' assessment programs tremendous competition from competiting countries.