Bangladesh Textile Exports Increased By 42%

Bangladesh's textile exports increased sharply by 42% to $1 billion 478 million in September this year, according to figures released by the Bangladesh Export Promotion Agency on Wednesday.

In the 7-9 month of this year, Bangladesh's textile exports increased by 42% to $4 billion 380 million.

Exports from knitwear increased by 52% to $1 billion 830 million, while the export of woven garments increased by 36.7% to 1 billion 530 million US dollars.

After the abolition of global export quotas at the end of 2004, Bangladesh's exports were dominated by clothing, especially knitwear.

In the last fiscal year, Bangladesh's exports amounted to $14 billion 110 million, of which $10 billion 700 million came from clothing exports.

In the financial year ended in June 2009, Bangladesh made an export target of US $16 billion 298 million.

The projected export target for knitwear was $6 billion 580 million, up 19% over the same period last year.

The export target of knitted garments is US $5 billion 680 million, up 10% over the same period last year.

Exporters say many foreign buyers are flying to Bangladesh to find low-end textile products, because countries that are hit by the economic crisis are looking for cheaper goods.