Breaking all records, Bangladesh garment industry, the biggest foreign currency earner for the country, has registered the highest-ever export earnings in 2015!
According to data from the Export Promotion Bureau (EPB), earnings from export of garment items touched US $ 26.26 billion between January and November, 2015, which is the highest-ever export earnings recorded by the garment sector of Bangladesh at any given time.
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“It is my hope that 2016 will be better than 2015 as all the factories have already been inspected and are safer now,” said President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Siddiqur Rahman, indicating towards the improved compliance scenario in the garment sector, which was amply brought to the fore by inspections results of two western retailers’ bodies, namely Accord on Fire and Building Safety in Bangladesh and Alliance for Bangladesh Worker Safety. The factory inspection bodies have reportedly found less than 2 per cent of the garment manufacturing factories in the country, risky.
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Figures provided by the Export Promotion Bureau (EPB) also indicated phenomenal growth in export earnings by the garment sector of Bangladesh between October and November 2015, registering 18.40 per cent and 14.74 per growth respectively.
It may be mentioned here that the apparel export earnings of Bangladesh, which considers India, South Africa, Australia, Russia, Japan, Brazil, Turkey, China, Chile, Mexico, South Korea and Turkey among the emerging garment export destinations, was US $ 24.53 billion in 2014.
Buoyed by the promising show by the industry in the year gone, coupled with strong emergence of new export destinations for apparel items, garment manufacturers are quite hopeful of giving a befitting performance in 2016 as well.
Bharat Tex Special Report 2026 
