The world’s 2nd largest producer of apparels, Bangladesh apparel industry contributes 84% of the country’s annual exports i.e. over USD 32.92 billion to the economy and generating employment for almost 4.5 million people. Of the total amount, Knitwear products earned $15.18 billion, which is 10.40% higher than last year while woven products earned $15.42 billion, up by 7.18%, from last year.
Bangladesh’s apparel exports earnings have recorded a sharp rise of 16.52% to $5.4 billion in 2018 to non-traditional export markets, which were $4.2 billion in 2017, according to the latest data of the Export Promotion Bureau (EPB).
There is huge yarn & fabric demand supply gap in the RMG industries which is presently met by imports from China, Hong Kong, Singapore, Thailand, Korea, Indonesia, Taiwan, etc.
Major textile imports consists of Cotton Yarns & Fabrics (dyed/blended), Man-made Staple Fibres, Filament Yarns, Polyester/Acrylic Yarns & Fabrics, Viscose/Rayon Yarns & Fabrics, Knitted or Crocheted Fabrics, Special Woven Fabrics, Tufted Textured Fabrics, Sewing Threads (Cotton/Synthetic/Acrylic), Fancy Yarns and Fabrics, Laces, Embroidery, Trimmings and other clothing accessories, Dyes, Pigments and other colouring materials amongst others from across South Asia, South-East Asia and the far East.