Bangladesh is the 2nd largest exporter of apparel in the world after China, with its 3,500+ garment factories exporting goods to 167 countries.
Bangladesh exported ~$52 billion worth of textiles and apparel in 2021-22 with knitwear and other garments accounting for ~$44 billion of the total.
Bangladesh's domestic apparel market is worth US$10.29 billion in 2023 and the market is expected to grow annually by 2.91% over 2023-2027.
Imports of raw materials, such as cotton, synthetic fibre, yarn and other accessories, rose 51.2% y-o-y in FY22.
In the first nine months of CY 2022, Bangladesh imported fabric valued at $1.7 billion and yarn worth $1.6 billion.