The Prospect Of Bangladesh Clothing Exports Is Heavy.
Exports in Bangladesh increased by 11.86% in 2009, compared with the same period last year. Despite the impact of the financial crisis, exports for the whole year are expected to reach US $16 billion target. However, according to the declining demand for export orders in the early February and early March, it will be very difficult to maintain such a goal. In January 2009, exports amounted to US $1 billion 400 million, exceeding the monthly growth target of 4.38%, but in the first 2009 months of fiscal 2009 (July 2008 January 2009), the export target was US $9 billion 200 million, only 99.55% US $9 billion 100 million.
At present, some commodity exports in Bangladesh are becoming fragile, such as footwear, home textiles, seafood and so on, showing negative growth in the first 7 months of fiscal year 2009. Bangladesh's exports now rely mainly on woven garments and knitted garments. If exports of these two categories of commodities begin to decline, the export of Bangladesh will have a greater impact.
According to the Bangladesh Export Promotion Council, exports of woven garments and knitted garments increased by 20.59% and 26.17% respectively in the first 7 months of fiscal year 2009, amounting to 3 billion 400 million US dollars and 3 billion 800 million US dollars respectively. With the decline of clothing orders, the prospect of garment export is not too optimistic, and exports are expected to decline.
Editor in chief: Xu Qiyun
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