BD now 2nd largest knitwear exporter in world after China

Nizam Ahmed Bangladesh has become the world's second largest knitwear exporter after China, replacing India from where the country imports most raw materials, mainly yarn, at a higher cost, traders said on Saturday. "We are now the second largest exporter in the world after China," AKM Salim Osman, president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) told the FE. However, the BKMEA president could not give immediately the exact figures of Bangladesh's present share in the world export market. The achievement was remarkable as the industry worked hard despite erratic supply of power and labour unrest that often temporarily disrupted production, traders said. Knitwear exports rose 46.25 per cent to $9.48 billion in fiscal year (FY) 2010-11, when the total apparel exports rose 43.35 per cent to nearly $18 billion, a data of Export Promotion Bureau (EPB) said. The export target for the apparel sector has been set at $20.29 billion for the current FY 2011-12 with the country's annual aggregate export target being projected at $26.3 billion for the year against $18.5 billion in the last fiscal. The exports surged the target by 41.5 per cent to reach $22.92 billion in Continued to page 7 col. 4