Garment exports show strong recovery

Bangladesh’s garment exports increased by 58% in January 2008 to $957 million from the same month last year due to the growth in exports to major markets in Europe and the United States.

According to the information provided by Shahab Ullah, Head of the Government’s Export Promotion Bureau, “Garment exports have now shown our capability and there are signs that growth will remain robust. Bangladesh’s garment exports were in negative territory during the first five months of the fiscal year starting in July as a result of continued fallout from labour unrest and political turmoil. Labour unrest has begun to decline with promises by companies to improve working conditions and low wages and there has been relative political stability since the installation of a military-backed government in early 2007.

The garment trade is the backbone of Bangladesh’s manufacturing industry, accounting for 80% of overall exports and 40% of the country’s industrial jobs.