BOOM TIME FOR BANGLADESH KNITWEAR INDUSTRY
December 1st, 2008
BY PAUL COCHRANE
BANGLADESH'S knitwear sector is undergoing unprecedented growth: averaging 24% per year over the past 12 years, and an astonishing 45% in the first three months of this fiscal year, with exports projected to reach US$10 billion by 2011.
The current financial crisis has depressed orders from the United States, but with Bangladesh the European Union's (EU) second largest knitwear importer, the sector is expected to weather the downturn due its position as a manufacturer of low-end knit items, with minimum price fixation, and access to the EU's ...
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