Bangladesh Yarn Usage Down 31.55% Between Jan-June 2023

Despite exports of garments moving upwards, albeit slowly, yarn usage in Bangladesh has reduced by 31.55 percent in the January to June 2023 period.

Data released by Bangladesh Textile Mills Association (BTMA) informed that knitting and clothing factories bought 809,351 tons of yarn in the first six months of 2023, down 31.55 percent year on year.

Of this, Bangladesh imported 413,683 tons of yarn between January to June 2023, down 36.17 percent from a year ago period.

In the reporting period, knitting mills and apparel manufacturers bought 395,666 tons of yarn from local textile mills, again a drop of 25.91 percent.

The Bangladesh garment industry has started concentrating on exporting high value garments, which is the main reason for hike in export earnings and reason for low yarn usage.

Sharp hike in gas prices have led to increase in operational cost of textile mills, which subsequently led to yarn and fabric prices ascending.

Due, to this knitting fabric and garment producers started importing yarn and fabric, particularly from India, where both were available at a lower prices.

BGMEA statistics informed that clothing exports rose by just 1.19 percent year on year to $22.97 billion in the first six months of current year.