China’s garment export competitiveness declines and Bangladesh’s garment exports to this country increase significantly

According to Bangladeshi media reports, according to the latest data from the Bangladesh Export Promotion Agency, Bangladesh’s garment exports grew rapidly in the first 10 months of the 2009-10 fiscal year, with knitwear exports reaching US$60.02 million and woven products reaching US$89.87 million. A year-on-year increase of 121.46%. In the first 10 months of the 2009-10 fiscal year, Bangladesh’s garment exports to Japan reached US$74.38 million, a record high in garment exports to Japan, an increase of 165.26% over the same period last year, of which knitwear increased by 230.65%. Officials from the bureau said that the growth in clothing exports was due to the rising labor costs in China and the reduced competitiveness of Japanese textiles.