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Bangladesh Jan exports rise 18.8 pct yr/yr on garment sales

Source : REUTERS
Last Updated: Mon, Feb 11, 2013 06:50 hrs

DHAKA, Feb 11 (Reuters) - Bangladesh's exports rose 18.81 percent in January from a year earlier, gaining for a seventh straight month thanks to improving overseas sales of clothing, the Export Promotion Bureau said on Monday,

From March through June, Bangladesh's monthly exports fell from the year-earlier period as the global slowdown weighed on demand. But overseas sales have since picked up, with a 8.83 percent rise in the July-January period, the data showed.

Exports in the first seven months of Bangladesh's July-June financial year totalled $15.15 billion compared with $13.92 billion over the same period of last year.

In January, exports of ready-made garments rose almost 23 percent to $2.09 billion from $1.70 billion in the same month of 2012. For the seven months ended in January, garment exports totalled $12.04 billion, 9.9 percent more than a year earlier.

In recent years, Bangladesh's economy and exports have been boosted by a dramatic shift in global garment orders from China to lower-cost Bangladesh.

The government set an export target of $28 billion for the current fiscal year, up from last year's total earnings of $24.3 billion.

Garments account for 80 percent of Bangladesh's exports. The industry employs 3.6 million people and more than four times that number are dependent on the sector for their livelihoods.

The garments trade has been in the spotlight since a factory fire that killed at least 112 people in November. Working conditions in the factories are notoriously poor, with little enforcement of safety laws. Overcrowding and locked fire doors are not uncommon.

(Reporting by Ruma Paul)




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