Bangladesh'S Local Garment Industry Is Developing Rapidly Due To Multiple Factors.
Insiders say that
They say that the world's largest textile and garment exporting country has a Chinese export base of US $185 billion, and China's competitiveness has declined rapidly, which has led global buyers to turn to Bangladesh. Therefore, Bangladesh's local exporters have received a large number of export orders.
One exporter said that other competing countries, such as India and Pakistan, could not compete with Bangladesh because their production costs were rising rapidly.
He said export orders began to shift from China to Bangladesh because China's competitiveness declined, and Bangladesh's export orders grew by 30-40% in recent months.
Now all the clothing factories are full of bowls, and the workers are busy cutting and sewing clothes.
Bangladesh has a reputation for its quality, but the cost is very low, he said.
The official data show that clothing exports increased by 30% (US $644 million 900 thousand) over the previous year in the first quarter of this fiscal year.
Bangladesh garments and garments exports reached US $3 billion 971 million 520 thousand, compared with us $3 billion 30 million 760 thousand in the same period last year. At the same time, in order to get import orders, many well-known global retailers set up procurement offices in Dhaka, and many foreign purchasing agencies plan to establish more liaison offices in Bangladesh.
BGMEA people say that in order to meet the increasing overseas demand, many companies are expanding their capacity and increasing investment. Last year there were 420 new garment factories.
The contribution rate of garment industry to Bangladesh's national exports was 80%, and that of the 2009-10 fiscal year was 12 billion 390 million dollars. The recession has increased by only 1.21% over the previous year.
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