Export

Bangladesh’s July-April Garment Exports To New Markets Up 10%

Textile Insights May 30, 2024

In the July to April months of fiscal 2023-24, Bangladesh’s apparel exports to new markets increased 10 percent year on year and touched US $7.70 billion. Growth to new markets included Saudi Arabia with 58 percent growth, Turkey with 54 percent, UAE with 42 percent, Australia with 17.18

Export

Bangladesh Hardly Utilising Regional Export Trade Potential

Textile Insights May 29, 2024

Bangladesh is hardly utilising its regional trade potential as less than 5 percent of its total exports go to India and China, countries that are members of the Association of Southeast Asian Nations (ASEAN). “Bangladeshi exports to China and India stood at $4.05 billion in 2020, but even in 2022 Bangladesh could export only $2.64 […]

Policies

Bangladeshi Apparel Export Sector Seeks Tax Breaks In Budget

Textile Insights May 28, 2024

Bangladesh’s apparel export sector is seeking tax breaks and extended policy support in the upcoming budget due to a slowdown in global demand and rising production costs. This includes a significant reduction in source tax and VAT relief on raw materials, which can help them navigate challenging economic pressures. The garment factories have requested the […]

Apparel, Fashion, Retail

Bangladesh Can Add $500mn Of Apparel Export Via Online Sales

Textile Insights May 24, 2024

According to a study, Bangladesh has the potential to add another US $500 million in garment exports to the US, the EU and the African region through a virtual marketplace by 2027. This was the finding of a study titled ‘Establishing a Virtual Marketplace for Bangladeshi Apparels’ conducted by the International Finance Corporation (IFC) with […]

Export

Bangladeshi Garment Exports To India Fall 22% In July-March

Textile Insights May 23, 2024

Exports of garments from Bangladesh to India fell to US $645.18 million between July and March of fiscal 2023-24, down 22.31 percent from $830.51 million in same period of previous fiscal. Exports of garments to India dropped despite overseas shipments rising to other non-traditional markets, sata of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA)

Economy

Bangladesh Has Potential To Become Asian Tiger: US Envoy

Textile Insights May 13, 2024

US Ambassador to Bangladesh Peter Haas has stressed the necessity for Bangladesh to take bold steps in order to prosper as a country, but also added that Bangladesh has potential to become an Asian Tiger. “In order to become prosperous, Bangladesh must then take bold steps to expand economic, political, and legal freedoms for its […]

Export

BGMEA Seeks Incentives Post LDC To Reach $100bn Target By 2030

Textile Insights May 10, 2024

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the industry will meet target of US $100 billion by 2030, if the government supports industry post LDC graduation in 2026. According to BGMEA President SM Mannan, the apparel industry seeks an alternative support by way of cash incentives after Bangladesh graduates from least developed country […]

Export

Bangladesh Apparel Exports Up 4.95% Between July & April

Textile Insights May 6, 2024

In the first ten months of fiscal 2024 ending June 2024, Bangladeshi garment exports totaled US $40.49, up 4.95 percent over $38.58 billion reported in the same period of previous fiscal. In the months between July 2023 and April 2024, knitwear exports stood at $22.88 billion, growing by 11 percent over the comparable months of […]

Export

Bangladesh Exports May Shrink Up To 14% Post LDC Graduation

Textile Insights May 3, 2024

After its graduation from a least developed country (LDC) in 2026, exports from Bangladesh are expected to drop between 5.5 and 14 percent, due to the country losing its preferential trade benefits. According to an Asian Development Bank (ADB) study, over 70 percent of the country’s merchandise exports currently benefit from LDC-specific trade preferences. “The […]

Export

Bangladesh Garment Exports Lag Behind Asian Competitors

Textile Insights April 30, 2024

Apparel exports from Bangladesh have witnessed a drop in both value and volume to the EU and the US in the first two months of 2024. While, China and Vietnam both reported single-digit growth in terms of value and volume of garment exports to the US, Bangladesh has recorded double-digit negative growth rate in this […]