Readymade Garment Exports From Bangladesh Have Risen While India Show Downward Trend

Readymade garment exports from Bangladesh have risen while apparel exports from India continue to show downward trend. 
 
The exports of garments from Bangladesh rose by 8.8 percent year-on-year to US$ 1.36 billion in November 2012, according to the data released by the Export Promotion Bureau (EPB). Of these, woven garment exports fetched US$ 710.04 million, while knitwear earned US$ 653.96 million.
 
Bangladesh posted positive growth in its garment exports in spite of the ongoing debt crisis in several European nations, the traditional buyers of Bangladeshi clothing items.
 
In the first four months of the current Bangladeshi fiscal 2012-13, woven and knit apparel exports have increased by 16 percent year-on-year to over US$ 6.6 billion.
 
In comparison, India’s apparel exports declined by 0.75 percent year-on-year to US$ 907 million in October 2012, figures for which are available, according to the Apparel Export Promotion Council (AEPC).
 
India’s garment exports during the first seven months of the current Indian fiscal year 2012-13 too declined by 9.1 percent year-on-year to reach SU$ 7.133 billion.
 
AEPC attributed the decline in exports to economic crisis in Western Europe, US and Canada, in addition to stiff competition from Bangladesh and Vietnam in US market and from Turkey in EU market.