June 17, 2024

Cotton Imports By Bangladesh Decline Significantly In 2023

Bangladeshi cotton imports declined significantly to 1.35 million tons, decreasing by 24.85 percent compared to 1.80 million tons in 2022.

Imports of cotton, yarn and fabric by Bangladesh slipped in 2023, although exports of apparel grew 3.67 percent the same year

But imports of manmade fibre registered a growth in 2023; due to Bangladeshi apparel exporters increasing exports of MMF apparels last year.

“Additionally, yarn imports also fell to around 920,000 tons in 2023, down 10.11 percent over 2022,” New Age reported quoting data from Bangladesh Bank.

While, woven fabric imports dropped to around 490,000 tons, also down 14.49 percent and knitted fabric imports dipped to around 320,000 tons, a fall of 10.34 percent over 2022.

Giving reasons for fall in cotton imports, BTMA President Mohammad Ali Khokon said that spinners in the country were forced to run their units with half of their capacity due to a shortage of gas.

“Additionally, a few mills which do not have access to the export development fund, faced difficulties in importing cotton due to the forex crisis,” he added.

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