DHAKA Oct 9 Bangladesh's exports rose in
September for the third month in a row thanks to improving
garment orders, official data showed on Tuesday.
Exports jumped 31.3 percent in September from a year earlier
to $1.9 billion, the Export Promotion Bureau said. Total exports
for July-September, the first quarter of Bangladesh's financial
year, were up 2.1 percent to $6.29 billion.
From March through June, Bangladesh's monthly exports were
lower than the previous year.
In September, exports of ready-made garments were $1 billion
in September, compared with $995 million in the same month of
2011. For the three months ended in September, garment exports
totalled $4.99 billion, 3.8 percent more than a year earlier.
Garment orders were slowly picking up from buyers such as
the United States, China and Japan, said Anwar-Ul-Alam
Chowdhury, former president of the Bangladesh Garment
Manufacturers and Exporters Association (BGMEA), which
represents the country's 4,500 garment factories.
However, he said garment exports in the current fiscal year
will be less than 10 percent higher than a year earlier due to
the slowdown in global economy.
For the financial year ended June 30, garment exports rose
6.6 percent to $19 billion while total exports increased 5.9
percent to $24.3 billion - short of a government's $26.5 billion
target as garment demand from key Western markets waned.
The government set an export target of $28 billion for the
fiscal year that began on July 1.
In recent years, there's been a dramatic shift in global
garment orders from China to lower-cost Bangladesh, whose
garment factories employ around 4 million workers, mostly women.
Bangladesh's low labour costs have helped it join the global
supply chain for low-end clothing, making garments for companies
such as H&M, Tesco, JC Penney,
Wal-Mart, Kohl's, Marks & Spencer and