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Thursday, January 8, 2015

Garment exports on the mend

Despite great odds, garment exports last year rose 5.78 percent year-on-year to $24.6 billion, by virtue of retailers' increasing willingness to shift orders from China. Some $24.6 billion worth of garment products were exported in 2014 in contrast to $23.5 billion the year before, according to the Export Promotion Bureau. 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.

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