The world’s 3rd largest producer of apparels, Bangladesh has over 4000 factories serving all major global fashion brands. Bangladesh manufactured apparel are exported to over 150 countries across the world.
The industry contributes 83% of the country’s annual exports. In fiscal year 2019-20, the country’s earnings from apparel exports stood at US$ 27.9 bn, registering 11.49% growth and contributing 13% in the total GDP. Knitwear items earned $13.98 bn and Woven items earned $14.04 billion.
Bangladesh RMG exports are likely to grow at a CAGR of 12.5%, in future, which will lead to Bangladesh’s apparel exports becoming $100 billion by 2025.
Bangladesh does require a large quantity of textiles including fabrics and yarn to cater to the requirements of its vibrant apparel industry. Bangladesh imports ~US$ 14 billion from the world in T&A commodities; with fabrics comprising 50-60% of the major share in total T&A imports.
The country largely depends on imports for raw cotton, synthetic/viscose fibers, synthetic/mixed yarn, cotton yarn, and textile fabrics and apparel accessories from different sourcing centres - Thailand China, Taiwan, India, Hong Kong, South Korea, Indonesia, etc.