Today in the spotlight, is a true story of one of those Asian countries forging right ahead when others have been very much affected by the merciless global economic crisis. In Bangladesh, the textile statistics for its exports to the United States shows a radical ten percent increase from last year to June 2009. Bangladesh is one among the many countries that depends on exports not vastly devastated by the recession problem.
Her apparel exports are actually booming while her sister countries such as Philippines, Thailand, Indonesia and Malaysia are equally hurt as some European countries and the US. Most specifically, Bangladesh supplies knitwear and woven outfits. These seem to have increased by almost forty two percent and thirty six percent for the last month of the year 2008, in contrast to the previous per annum figures, according to the current statistics. The fact that, many clients from the countries whose purchasing power have declined, due to effects of global economic crisis, are looking for low cost final textile products, gives Bangladesh an upper hand.
June 6, 2009
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