BANGLADESH GLOBAL EXPORT TO INCREASE 1 PERCENT

Industry experts believe that Bangladesh’s share of worldwide textile and garment exports will increase from currently 2.8 percent to 3.8 percent by 2020.

To date, Bangladesh is the largest exporter of ready-made garments (RMGs) after China, reports fashionunited.co.uk on Wednesday.

Moreover, according to the new HSBC Trade Forecast report, ‘the strong foothold Bangladesh has in the production of apparels will further strengthen growth in total merchandise exports over the coming decade’.

In the first five months of this year, the export value of RMGs from Bangladesh increased by 13 percent compared to the same period last year.

In 2013, it increased by 11.7 percent.

Half of the garments produced for export went to Europe while one quarter went to the US, thus making the EU zone and the US the country’s strongest garment importers.

RMGs make up about 80 percent of all exports from Bangladesh.

Source: banglanews24.com

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