Bangladesh Knitwear Exports May Create Record Growth
In the current financial year, Bangladesh
Knitwear
Exports may exceed all previous records, because the demand for local knitwear from the EU market has increased rapidly, industry insiders say.
In EU countries, there is a huge demand for high quality knitted products, because our competitors, such as China and India, can provide quite cheap products. The first vice president of Bangladesh knitwear manufacturers and exporters (BKMEA), Habib Rachman said.
Rachman said knitting in Bangladesh.
commodity
For example, T-Shirts, T-shirts and other products are very popular in Europe because they have competitive prices and high standards.
Despite the recent economic crisis in Greece and Ireland, the demand for knitwear in Bangladesh remains high elsewhere in Europe.
Rachman said that we are faced with difficulties in pportation of raw materials, and many workers are unable to return to the factory after the strike.
These units are facing difficulties in the procurement of diesel oil, because most petrol stations are closed during the strike.
All these factors hurt the production of knitwear and delayed delivery.
Shipment from Bangladesh to the European Union will take at least 25 days, either through Singapore or through Sri Lanka.
Foreign purchasers are strict in shipping date.
The leader of the Bangladesh knitwear manufacturing and exporter Association said that if
product
Shipments will be delayed and the exporters of knitwear will suffer huge losses.
It is difficult for them to offset such financial losses.
At present, there are about 1700 knitting factories in Bangladesh.
In the 2010-11 fiscal year, the export growth of the knitting sector in Bangladesh reached 46.25%, with a total revenue of $94 billion 820 million 600 thousand.
In the 2009-10 fiscal year, the growth rate was 0.84%, due to the global recession.
In the fiscal year 2008-09, the growth rate was 16.20%, and the growth rate in the 2007-08 fiscal year was 21.50%.
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