The Bangladesh garment industry has the potential to boost its non-cotton or manmade fibre (MMF) apparel exports to US $42 billion by 2032 at an additional investment of $18 billion. This was revealed in a study conducted by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA)
The Bangladesh garment export industry aims to expand its woollen garment exports in the next five years and propel them by 10 times from the current US $100 million. This development comes in the background of Australia, the world’s biggest wool producer, is targeting Bangladesh as an alternative to China for its wool processing. “Bangladesh […]
In the first ten months of 2023, Bangladesh’s garment exports to the US totaled US $6.35 billion plunging by 24.75 percent year on year. In volume terms, apparel overseas shipments to the US between January and October dropped higher at 29.51 percent to 1.95 billion square metres from 2.41 billion square metres in the same […]
A US based fashion garment buyer has issued a letter of credit (LC) to a Bangladesh garment exporter, with the condition, that it will not pay the amount or take delivery, if US enforces sanctions on Bangladesh. As per Prothomolo, this development was confirmed by Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters […]
The Bangladesh Bank’s (BB) latest quarterly review on the garment sector informs that Bangladesh garment exports may face various challenges in the next few months of the current fiscal year. The central bank of Bangladesh attributed the challenges to global economic volatility, high inflation, uncertainties over the geo-economic landscape and low productivity. “Reducing
Bangladeshi apparel exports fell to US $4.78 billion in November 2023, decreasing by 6.05 percent year on year and garment shipments were the highest in the month, since the fiscal began in July 2023. “Exports of clothing dropped to $22.3 billion in the five months to November of fiscal 2024, down 1.82 percent from a […]
In the first four months of fiscal 2024 ending October 2023, Bangladesh garment exports to India dropped to US $346.34 million, down 12.80 percent compared with same period of earlier fiscal. Experts have raised concerns over apparel exports falling in the reporting period to the neighbouring country, which has a big population. “But they also […]
In the July to October period, Bangladesh clothing exports totaled US $14.78 billion, up from $13.95 billion in the comparable months of earlier fiscal, indicating a growth of 5.59 percent. Bangladesh garment exports in October 2023 dropped 13.93 percent to $3.17 billion from $3.68 billion in October 2023. The labor unrest, which started around the […]
A Tirupur garment exporter’s association has sought the intervention of the centre to restrict the ever increasing import of knitted fabrics and garments from Bangladesh. Both fabrics and garments are imported from Bangladesh into India without paying any customs duty under a free trade agreement (FTA) signed between both countries. “It’s the local manufacturers who
In the nine months to September 2023, exports of apparels to the EU rose 6.40 percent from a year ago period to $17.52 billion, but clothing exports to the US fell to $6.30 billion, down 7.18 percent. Clothing shipments to Canada increased 6.27 percent to $1.12 billion, while those to the UK climbed in double […]