DHAKA: Bangladesh garment exports have raised 5.78 percent and hit to $24.6 billion in 2014, according to the Export Promotion Bureau here the other day.
Some $24.6 billion worth of garment products were exported in 2014 in contrast to $23.5 billion the year before.
Furthermore, there appears to be an uptick generated towards the end of 2014: in December, Bangladesh shipped $2.33 billion of garment items, up from November’s $1.94 billion.
The latest numbers come as a boost for the sector, which in the past couple of years has been subjected to a certain degree of backlash over its working conditions and labour rights following the twin disasters of Tazreen fire and Rana Plaza and subsequently, some order diversions.
However, the recent clean chit given to more than 98 percent of the garment factories by the two foreign inspection agencies — Alliance and Accord — have reassured buyers, who appear to be placing orders in bulk once again with confidence.
Many small and medium factories, housed in shared buildings, are struggling for orders for retailers’ new improved criteria for workplace safety.
“We are in the right direction. We are hoping that we will enjoy the benefit of our improved safety measures in 2015,” said Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association.
The re-emergence of political turmoil though does not bode well, he said.
“The factories need raw materials from home and abroad, and that supply is being cut off for the non-stop blockade. Our shipments too are affected.”
On average, the factories produce Tk 500 crore to Tk 600 crore of garment items a day, he said.
“So, we want cooperation from all sections of the country for smooth running of our businesses,” Islam added.
Overall exports grew 4.33 percent to $2.84 billion in December but it narrowly missed the month’s target of $2.86 billion.
December’s takings take the first-half export earnings of fiscal 2014-15 to $14.91 billion, up 1.56 percent year-on-year. The amount missed the six-month export target of $15.6 billion.
