Bangladesh’s apparel exports to different international markets have been experiencing slower growth than the competitors including Vietnam, India and Pakistan, putting further stain on the competitive edge of country’s highest export-earning sector. RMG export to US, the largest importer of Bangladeshi apparel products, is also showing a declined trend compared to the last fiscal. Bangladesh’s apparel export posted a 2.38 percent growth during the July-December period of the current fiscal over the corresponding period of the previous fiscal, according to Bangladesh Export Promotion Bureau (EPB) data. Vietnamese RMG export grew by 4.47 percent while India and Pakistan have seen 10 and 20 percent growth in their apparel exports respectively during the same period, according to the export data of Vietnam, India and Pakistan. Vietnam’s income from RMG exports, however, saw a negative growth from 18.17 percent in July to 4.47 percent in December of the current fiscal. India also maintained a fluctuating growth in income from RMG export during the same period. Pakistan, however, maintained an upward trend in RMG export from a 1.48 percent negative growth in July to 20 percent growth in December. Bangladesh is the world’s second largest RMG exporters after China. Bangladesh’s market share in the global RMG market is 5 percent with China holding 30 percent of the global apparel market. Bangladesh’s major competitors include India, Pakistan, Myanmar and Cambodia—those are striving to grab more stakes in the international market. Bangladesh’s RMG export to the US market has been experiencing downward trend. EPB data show that during the June-January period of the current fiscal year, Bangladesh’s RMG export to the US was 3.58 percent lower compared to the same period last fiscal. In addition, the Trans Pacific Partnership which will enable Vietnam to get Duty Free Quota Free access in USA and Philippine’s GSP plus facilities to the EU market have brought in new challenges for Bangladesh’s readymade garment sector. Calling upon the government to take initiatives so that the Bangladeshi exporters get to enjoy more export facilities, BGMEA President Atiqul Islam said there is no alternative to development of proper infrastructure to enhance the competitive advantage of Bangladesh’s garment sector. He also called upon all concerned to put an end to the ongoing political instability, which is severely affecting production and export in the RMG sector.
Source: https://www.daily-sun.com/print/back-page/2015/03/07/491309#sthash.jmh7Cb43.dpuf
