BD ahead in apparel export
Wednesday, 30 December 2009
Bangladesh has overtaken India in apparel exports this year as for the first nine months, its exports stood at 2.66 billion US dollar, ahead of India's 2.27 billion US dollar, BSS reports from New Delhi, India.
In 2008, both the countries were at the same level (US $10.9 billion) with each having three per cent of global apparel exports, the premier economic English daily "Business Standard" in a front-paged story on Monday reported.
It said, India's export volume is down 80 per cent this year for two reasons, the main being the global economic downturn and increasing competition from Bangladesh , Vietnam and Sri Lanka . During the downturn, buyers looked for cheaper deals and Indian exporters were unable to compete on costs due to rising raw material and power costs.
In 2008, both the countries were at the same level (US $10.9 billion) with each having three per cent of global apparel exports, the premier economic English daily "Business Standard" in a front-paged story on Monday reported.
It said, India's export volume is down 80 per cent this year for two reasons, the main being the global economic downturn and increasing competition from Bangladesh , Vietnam and Sri Lanka . During the downturn, buyers looked for cheaper deals and Indian exporters were unable to compete on costs due to rising raw material and power costs.