Bangladesh has taken the third position in exporting apparel and clothing accessories to the US market beating its competitors-Indonesia and Mexico in the recent months.
Until August 2010, the country was ranked fifth, trailing behind China, Vietnam, Indonesia and Mexico.
In September, the country exported apparel products worth $358 million, overtaking Mexico with $325 million in garment exports, said Bangladesh Embassy in Washington in a statement on Thursday. In October 2010, Bangladesh overtook another competitor Indonesia- $374 million from Bangladesh compared to $365 million from Indonesia. Now only China and Vietnam lie ahead of Bangladesh as far as RMG export to USA is concerned.
According to the analysis of the Commerce Wing of Bangladesh Embassy in Washington DC, Bangladesh exported about $1.44 billion worth of RMG products to USA during July-October 2010 period, registering growth of 20.37% compared to the same period of 2009. Pertinent to mention that the comparable growth rates of China was 21.15%, of Vietnam was 17.26%, of Indonesia was 16.17%, of Mexico was 3.495% and of India was 13.25%.
If the same growth trend continues, the country will overtake Vietnam in the near future, said the embassy statement, calling for concerted efforts from all stakeholders and asking them to avoid labour related problems in the RMG sector.
In the first five months of the current fiscal year, the country's overseas apparel sales grew by 36.36 percent compared with the same period last fiscal year.
Knitwear exports were up by 36.56 percent to $3.6 billion, while exports of woven garments grew by 35.83 percent to $2.89 billion.
The RMG sector, which employs over 30 lakh workers, mostly women, has targeted to reach $20 billion export volume by the next three years from over $12 billion in the last fiscal year.
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