Exports of readymade garments from Bangladesh registered double-digit decline in the first month of financial year 2015-16, according to the latest government data.
In July 2015, Bangladesh earned $2.215 billion in garment exports, showing a decrease of 12.02 per cent compared to exports of $2.518 billion made in the corresponding month of the previous fiscal, Export Promotion Bureau data showed.
The decline in the value of garment exports was in tune with the 11.96 per cent drop in overall exports by Bangladesh during the month. One reason for the decline in exports is the holiday season owing to Eid-ul-Fitr celebrated during the month.
Category-wise, knitwear exports dropped by 13.80 per cent to $1.127 billion in the first month of fiscal 2015-16, as against exports of $1.307 billion during the same month of the previous fiscal, as per the data.
Likewise, exports of woven apparel dipped by 10.11 per cent to $1.087 billion during the fiscal, compared to exports of $1.210 billion during July 2014.
Woven and knitted apparel and clothing accessories' exports together accounted for 84.38 per cent of $2.625 billion worth of total exports made by Bangladesh during the month.
In the previous fiscal that ended on July 30, 2015, garment exports earned $25.491 billion for Bangladesh, showing an increase of 4.08 per cent over $24.491 billion exports made in 2013-14.
