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Related Keywords: ambiguities relating to GST, fall highest in percentage term, FIEO, financial crunch, garment exports, hit hard in October, order bookings didn’t happen, reduction in duty drawback rates, worst performing export category

Garment exports hit hard in October as order bookings didn’t happen due to the ambiguities relating to GST. The fall is one of the highest in percentage term, the worst performing export category in October, as per the data with the union commerce ministry.

With readymade garment exports plunging 40.7 percent on a year-on-year (yoy) basis to Rs 5,398 crore in October, exporters have blamed the slump on financial crunch due to the delay in getting GST refunds and reduction in duty drawback rates under the new regime.

Related Keywords: benefit of made up exports, competitive in world markets, cut and sew products, garment exports, GST subsuming all other taxes and benefits, Indian made ups, post GST, ROSL, Textile industry fears Rebate of State Levies scheme, urged government to continue with ROSL, withdrawn prematurely

The textile industry fears that the Rebate of State Levies (ROSL) scheme will be withdrawn prematurely, with Goods and Service Tax (GST) subsuming all other taxes and benefits and hence urged the government to continue with the ROSL scheme post GST for the benefit of made up exports.

ROSL scheme was introduced in March 2017 initially for three years. Under ROSL, exporters of made ups get incentives of 3.9 percent of the value of exported goods.

Related Keywords: bedwear exports, garment exports, Pakistan RMG exports

Pakistan RMG exports surged 3.76% during the first two months of the current fiscal year. During the same period, about 5,109, 000 dozen readymade garments worth of $ 364.072 million were exported, as compared to the exports of 4,944, 000 dozen worth of $350.867 million of same period of last year.

According to reports, bed wear exports rose by 5.28 percent, as about 58,365 metric tons of bed wear worth $355.799 million exported during the same period.

The exports of bed wear were recorded at 52,151 metric tons with a total cost of $337.955 million in July-August, 2015-16.

Related Keywords: Bangladesh sees Latin American, establish new politico-cultural and economic relations, eyeing the large Latin American market for their jute products, garment exports, handicrafts, market for its exports, plans to go beyond traditional export markets, Shahriar Alam, State Minister for Foreign Affairs, to share its culture, valued partner

Bangladesh sees Latin America not only as a market for its exports, but also as a valued partner with whom its people could share its culture, said State Minister for Foreign Affairs Shahriar Alam yesterday while addressing a seminar titled “Bangladesh’s relations with Latin Amercian countries: unlocking potential”.

Bangladesh thinks Latin America to be a prospective market for exports and hence plans to go beyond the traditional export markets and establish new politico-cultural and economic relations with Latin America.

Related Keywords: apparel export, Bangladesh textile imports, garment exports, Hamid Fabrics, imports of textile machinery, textile production capacity

Bangladesh’s imports of capital machinery by the primary textile sector increased about 54 percent year-on-year in fiscal 2014-15 on the back of higher demand for raw materials from garment exporters.

According to data from Bangladesh Textile Mills Association, $445.7 million worth of capital machinery was imported by the sector in the last fiscal year. A BTMA certification is required for importing machinery for the textile sector.

Related Keywords: European duty free access scheme, exports grow, garment exports, Pakistan home textile, Strategic Trade Policy Framework, textile sector

Pakistan home textiles exports has grew to $1.1 billion from January to September – higher by $235.8 million or 27.7% over the comparative period. While, garments exports increased to $1.9 billion, showing net addition of $399 million on back of 27.1% growth due the European duty-free access scheme.

Pakistan has so far earned $910 million extra by availing the scheme, which is almost equal to the money that the country raised this month from international markets by paying almost 7% interest.

Related Keywords: Bangladesh garment industry, garment exports

Bangladeshi exports have surged by 12.56 percent to $27.37 billion from a year earlier in the first 11 months of this financial year according to the Export Promotion Bureau. Garment exports increased nearly 15 percent to $22.2 billion in July-May. Boosted by strong clothing sales, Bangladeshi garment exports increased by 7.22 percent in May from a year earlier to $2.7 billion.

Related Keywords: garment exports, Tanzania textile mill

Tanzanian A-to-Z Textile Mill, based in Arusha which runs two factory plants intend to sell over US $ 70 billion worth of materials in the overseas markets every year and creating record exports of garments in future years.

According to the Company Executive Officer, Mr Anuj Shah, their dream can come true only with support from the government as well as the people of Tanzania because in order to crack the overseas markets to such an astounding level, A-to-Z must first establish a non-wavering domestic market.