According to the garment exporters of Bangladesh, the total export sales of garments from Bangladesh to China in the fiscal year 2009-2010 amounted to US$18.95 million, while the total sales of ready-made garments for the fiscal year 2010-2011 have grown to US$52.81 million. Up to 179%.
According to industry experts, during the fiscal year 2008-2009, the amount of garments exported to mainland China was only US$9.44 million. This figure shows that this emerging market in mainland China has great potential for the clothing industry in Bangladesh.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) pointed out that the Chinese mainland has been developing towards high-tech industries, labor-intensive traditional industries have gradually been eliminated, and cheap livelihood supplies have to be imported from abroad, while Bangladeshâ€™s Clothing just has this advantage, plus Bangladesh garment exports to China enjoy tax-free concessions.
The industry is optimistic and expects that the amount of goods exported to mainland China in the next five years is expected to grow to several hundred million US dollars.
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