“The study said apparel products in Bangladesh would see a compound
annual growth rate, or CAGR, of 14.3 percent to 2014 driven by an
expansion in apparel manufacturing capacity amid increasing export
orders. . .
The research was carried out by RNCOS, an India based market research
and information analysis company with a global presence, and the
findings were released on Friday. . .
The study identified Bangladesh’s low-cost manpower, competitive energy
cost and a proven track record in production and exports as an edge over
other competing countries like China, India, Vietnam and Thailand. . .
CAGR means the year-over-year growth rate of an investment over a specified period of time.
. .
The study revealed that factors, such as new plant set-ups, capacity
expansion in the existing ones along with favourable policies by the
government, will enable the industry to register an impressive 14.3
percent CAGR during fiscal years 2011-14. . .
The report acknowledged that availability of cheap manpower and low
energy costs have propelled apparel production in the country and
positioned Bangladesh as a competitive exporter of the apparel items in
the global trade arena.
. .
The country’s export leadership is evident from the fact that the
country ranked fourth in exports followed by China, EU-27 countries, and
Turkey in 2009,” said RNCOS in its report. . .
The major export segments — knitwear, woven wear and sweaters — have
registered stupendous export growth during the past few years and it is
anticipated that in the coming years, the export growth will further
intensify, said the report. . .
“The impact of improving buying power is quite visible on the domestic
market as consumers are now buying branded apparels and spending a
considerable part of their disposable income on textile and clothing,”
it added. . .
Bangladesh’s apparel industry has grown manifold in the last decade. The
country’s recognition as low-cost and high-quality apparel production
base resulted in apparel production boom. Both small and large-sized
firms have been booking huge orders from the US and EU buyers and
expanding their production capacities. . .
Latest export data also show that the apparel sector in Bangladesh is booming. . .
Bangladesh has exported a total of $16.2 billion worth of goods and
services in the first nine months till March of the current fiscal year,
of which, over $12.5 billion came from knitwear and woven exports. The
growth rate is more than 40 percent over the July-March period of
2009-10”
Date:5/10/2011
Source:Egytex.com