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Bangladesh garment exports up 5.78 per cent

Bangladesh garment exports last year rose 5.78 per cent year-on-year. Reason: Retailers are increasingly willing to shift orders from China. The latest numbers come as a boost for the sector, which in the past couple of years has been subject to a degree of backlash over its working conditions and labor rights following the twin disasters of Tazreen fire and Rana Plaza and subsequently some order diversions.

However, the recent clean chit given to more than 98 per cent of garment factories by two foreign inspection agencies, Alliance and Accord has reassured buyers, who are placing orders in bulk once again with confidence. Overall exports grew 4.33 per cent in December. Some $24.6 billion worth of garment products were exported in 2014 in contrast to $23.5 billion the year before. Garment exporters hope to enjoy the benefit of improved safety measures in 2015.

However, the re-emergence of political turmoil does not bode well for the sector. Factories need raw materials from home and abroad and supply is being cut off due to blockade. Shipments too are affected. Also, many small and medium factories, housed in shared buildings, are struggling for orders due to retailers’ new improved criteria for workplace safety.

 
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