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Bangladesh Garment Exports Up Over 30%

Bangladesh’s exports jumped 31.3% in September from a year earlier, largely on improving garment orders. Official data showed exports reaching $1.9 billion, according to the Export Promotion Bureau. Quarterly exports were up 2.1%, to $6.29 billion. Readymade garments made up $1 billion of September exports, and almost $5 billion of quarterly exports, up 3.8% from a year earlier.

Garment exports are expected to be..[private] up by slightly less than 10% for the year. Analysts were anticipating a higher rate of growth and blame the lower number on the global economic slowdown. The government had a goal of $26.5 billion for the prior fiscal year, but only achieved $24.3 billion due to falling demand in China and the United States.

Bangladesh garment exporters also struggled with disruptions from labor unrest, including two large strikes in June and September that shuttered garment factories and put orders on hold for weeks.[private]