Chairman's Message

The growth of our Garments Export is largely dependent on the growth of Knit wear which is rapidly increasing at a rate of 30% per year .

Our Group turnover is also increasing  at the same rate which is mainly focused in the  Knit sector with the combination of dyed yarn manufacturing  for LIGHT & HEAVY KNIT WEAR and  manufacturing of  HEAVY  KNITWEAR ie. Sweaters, cardigans & Pull overs.

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News & Events

Exports back on track, eye on global crisis

Exports grew by 35.41 percent to $1.95 billion in October compared to the previous month, riding on the performances of the apparel sector, the Export Promotion Bureau (EPB) said yesterday.

Exports increased 20.79 percent to $8.11 billion in the July-October period, the first four months of the current fiscal year, compared to the same period last year.

However, export performance was 0.40 percent short of the periodical target at $8.15 billion, the data showed.

In September alone, the earnings from overseas trade were recorded at $1.44 billion.

Bangladesh clocked a staggering 40.25 percent growth in June, but the country's overseas sales started to slow down since then.

Firstly, the growth in export is increasing gradually for better performances in the newly developed markets such as Japan, South American countries, South Africa, New Zealand and Australia, exporters said.

Secondly, the export in value is increasing due to higher prices of per unit of garment items from the high-end customers, they added.

The trends show that a good number of high-end brands are now outsourcing garment items from Bangladesh. As a result, the prices of per unit of garment item also increased in value, said the exporters.

However, export growth of some major products such as knitwear, woven garments, jute and jute goods, oceangoing vessels, home textile, footwear and frozen foods slowed down during the period.

In the July-October period, Bangladesh exported knitwear worth $3.38 billion and woven worth $2.93 billion, with a 16.88 percent and 25.10 percent rise respectively compared to the same period a year ago.

But, the international market is still volatile, said Monoj Kumar Roy, joint secretary (export) of the commerce ministry.

“We should be cautious in the coming days. We are keeping an eye on the market trend regularly because it is a volatile time,” he said.

He said the time has not come yet to be worried due to the fallouts of the debt crisis in the Eurozone.

“We did not expect such a good growth in export in October, but it happened due to good performances in the new export destinations,” said Faruque Hassan, vice-president of Bangladesh Garment Manufacturers and Exporters Association.

He said the unit price of garment items also increased, while the major high-end brands are outsourcing garment items from the country.

Fazlul Hoque, former president of Bangladesh Knitwear Manufacturers and Exporters Association, said: “The growth also surprised me. But the ground reality is different. We might face bad time in next two to three months,”

BD now 2nd largest knitwear exporter in world after China

Bangladesh has become the world's second largest knitwear exporter after China, replacing India from where the country imports most raw materials, mainly yarn, at a higher cost, traders said on Saturday.

"We are now the second largest exporter in the world after China," AKM Salim Osman, president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) told the FE.

However, the BKMEA president could not give immediately the exact figures of Bangladesh's present share in the world export market.

The achievement was remarkable as the industry worked hard despite erratic supply of power and labour unrest that often temporarily disrupted production, traders said.

Knitwear exports rose 46.25 per cent to $9.48 billion in fiscal year (FY) 2010-11, when the total apparel exports rose 43.35 per cent to nearly $18 billion, a data of Export Promotion Bureau (EPB) said.

The export target for the apparel sector has been set at $20.29 billion for the current FY 2011-12 with the country's annual aggregate export target being projected at $26.3 billion for the year against $18.5 billion in the last fiscal.

The exports surged the target by 41.5 per cent to reach $22.92 billion in 2010-11.

The overall exports of woven and knitwear already started showing an upward trend as India recently has given access for Bangladesh's 46 garments products, traders said.

Meanwhile, the potential knitwear industry in India based on inherent strength of strong raw materials, blamed high cost of labour, power and water as the main causes for being beaten by its tiny neighbour Bangladesh, the Confederation of Indian Textile Industry (CITI) said.

Stringent labour laws and disruptions in power and water supplies were the other problems being faced by the Indian knitwear manufacturers and exporters, industry sources in India said.

Bangladesh knitwear exports presently exceeded those of India in meeting the global demand for knitwear, the CITI said.

China with its annual exports worth $53.8 billion continued as the biggest knitwear exporter meeting some 33.5 per cent of the global needs, said CITI.

According to CITI, both India and Bangladesh had a share of 2.5 per cent in the global knitwear market in 2005. Bangladesh, however, enjoyed an edge over India in exports of t-shirts, pullovers, cardigans and baby garments.

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