Export

July Bangla Garment Exports Rise Sharply By 17.43%

Textile Insights August 14, 2023

During the first month of fiscal 2024, Bangladeshi garment exports rose sharply by 17.43 per cent to US $3.95 billion, up from $3.37 billion dollars in July 2022. Of this, woven garment shipments grew 11.54 percent in July 2023 and totaled $1.68 billion from $1.51 billion in July 2022, while

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Non Tariff Barriers Potent Tool To Disrupt Indian Garment Exports

Textile Insights August 12, 2023

At a webinar organised by Apparel Export Promotion Council (AEPC), it was highlighted that 69 percent of textiles related Non Tariff Barrier (NTB) notifications issued since 2019, relate to the garment industry alone. AEPC in collaboration with Sarvada Legal organised the webinar on ‘Emerging non-tariff barriers in the apparel export sector’, with the aim to […]

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Bangla Garment Exports Get UK Duty Free Status Post LDC

Textile Insights August 11, 2023

Bangladesh garment exports to the UK will continue to receive duty free status posts for a three year period following its transition out of the Least Developed Country (LDC) status in 2026. The South Asian country will be eligible to export 92 percent of tariff line products duty-free, which also includes apparels, when accessing the […]

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European Union Garment Imports Climb 20.97% in 2022

Textile Insights August 7, 2023

In 2022, the European Union’s garment imports from the world climbed 20.97 percent to reach US $103.09 billion as against $85.23 billion in 2021 and which stood at $90.53 billion in 2018. Quoting EUROSTAT statistics, the Bangladesh Garment Manufacturers & Exporters Association (BGMEA) said while, EU’s apparel imports from Bangladesh has grown at a CAGR […]

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Chinese Textile Exports Down 11 Percent In Jan-June 2023

Textile Insights August 5, 2023

In the first six months of 2023, Chinese textile exports like home textiles, yarns and fabrics totaled $67.69 billion, down 11 percent over the similar period in 2022. Chinese garment exports dipped slower at 6 percent to US $74.98 billion in the first half of 2023 as against $79.68 billion in the comparable months of […]

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Global Garment Trade Rises 7.26% In 2022

Textile Insights August 5, 2023

According to the World Trade Organisation (WTO), global garment trade rose 7.26 percent in 2022 and amounted to US $576 billion as against $537 billion in 2021. China is the largest supplier of apparel in the world while Bangladesh retains second spot and its market share climbed to 7.87 percent in 2022 as against 6.37 […]

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US Garment Imports Plunge 22.92% Between Jan-May 2023

Textile Insights August 2, 2023

US garment imports in the first five months of 2023 plunged 22.92 percent year on year, to US $31.51 billion as against $40.89 billion in January-May 2022. Between January and May 2023, volume wise data measured in Square Meter Equivalent (SME) sank 30.48 percent from a year ago period to 9.58 billion SMEs from 13.79 […]

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Global Textile Sector In Need Of Demand Revival

Textile Insights July 31, 2023

As the economy is expected to rebound in the United States followed by Europe, global textiles industry is in the need of demand revival. The past eighteen months has witnessed rocky economic climate showing anomalies such as high inflation, strong labour market and weak consumer demand. The textiles sector in India has been hit hard […]

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Bangladesh & India Start Trade In Indian Rupees

Textile Insights July 31, 2023

For the first time a Bangladeshi importer, Nita Company, imported 36 Tata Motors pickup vans worth Rs 1.23 crores by paying in Indian rupees at Benapole Land Port. The trade in Indian rupees was earlier inaugurated on July 11, by the Bangladesh Bank Governor Abdur Raof Talukder and Indian High Commissioner Pranay Kumar Verma. “The […]

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22 Countries Open Bank Accounts To Trade In Indian Rupee

Textile Insights July 28, 2023

Banks of 22 countries have opened Rupee Vostro accounts in Indian banks in order to trade in the Indian currency as part of gradual plan to veer away from dollar payment. “This would enable exporters and importers to invoice and pay in their respective domestic currencies enabling the development of a bilateral foreign exchange market,” […]