The Bangladesh Textile Industry - An Overview
The Bangladesh Textile Industry - An Overview
Now Bangladesh is the 3rd largest apparel exporter to USA
Bangladesh The textile industry is one of the most important sectors of Bangladesh. Bangladesh is now the 3rd largest exporter of apparel and clothing accessories to US market as she surpassed her competitors Indonesia and Mexico in the recent months, reports BSS. Until August 2010, Bangladesh was the 5th largest apparel exporter to the US after China, Vietnam, Indonesia and Mexico, a release said in the city Friday.
But in the month of September 2010, Bangladesh with its monthly exports of $358 million overtook Mexico which exported $325 million to the US market in the next month. In October 2010, Bangladesh overtook another competitor Indonesia as she exported apparel worth $374 million compared to $365 million from Indonesia.
According to the analysis of the Commerce Wing of Bangladesh Embassy in Washington DC, Bangladesh exported about $1.44 billion worth of RMG products to USA during July-October 2010 period, registering growth of 20.37 per cent compared to the same period of 2009.
Bangladesh's export to USA sees robust growth in July
Export earnings from USA, the largest market for Bangladeshi goods, registered a robust growth in July this year totaling US$ 446.61 million, which is 24.57 per cent of the country's total export income for the month, reports UNB. The export earnings from USA in July this year are also 38.10 per cent higher than the corresponding month of the last fiscal. The export earnings from USA in July 2009 were $323.40 million. Latest statistics, provided by the Export Promotion Bureau (EPB), show that of the total July export of $446.61 million, ready-made garment (RMG) items including knitwear accounted for $410.71 million with 36.99 per cent growth. The major items exported to USA in July 2010 were woven garment $291.88 million, knitwear $118.83 million, frozen shrimp $11.03 million, cap $2.27 million and home textile $5.36 million. Meanwhile, the export earnings from USA witnessed a declining trend in the last fiscal -- almost 8.9 per cent in 2009-10 from fiscal 2008-09. The most noticeable cause for this is the declining trend for RMG exports from Bangladesh to USA which was affected badly by the global recession. According to the EPB statistics, the country's export earnings from USA in the last fiscal totaled $3.14 billion, a 7.74 per cent fall over $3.4 billion registered in 2008-09. The last fiscal (2009-10) marked the end of an up-and-down decade for Bangladesh's exports to USA. From a high of $2.5 billion in fiscal 2000-01, exports had fallen to under $2 billion by 2003-04. Exports rose steadily to cross the $3.0 billion mark in 2005-06, and peaked at nearly $3.6 billion in the fiscal 2007-08. Then the country' s export earnings fell for two consecutive years in fiscal 2008-09 and fiscal 2009-10.
According to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the total fabric requirement in the captive market is about 3 billion yards, of which roughly 85 to 90 percent is imported from countries such as China, India, Hong Kong, Singapore, Thailand, Korea, Indonesia and Taiwan. Fabric demand is increasing at the rate of 20 percent per year. The existing weaving capacity in Bangladesh can meet only about 40 percent of fabric demand; the rest is imported. However, the increasing trend of expansion in the weaving sector is clear from the fact that 223 modern weaving plants, each with an annual capacity of 10 million meters, will be set up in the near future.
Despite its handicaps, Bangladesh nearly doubled garment exports from 2004 to 2009. And the industry now employs about three million people, more than any other industrial segment in this largely agrarian country of 160 million. From June through November last year, garment exports accounted for more than 80 percent of the country's total.
Contribution to exports
Bangladesh's export earnings carries more than 60% contribution from the Garments, Apparel, and Knitwear Industry. The industry itself is one of the biggest Garments Industry in the world along with Thailand, India, and Mexico.
Starting from Buttons, labels, apparel papers, threads, and all other products are found here. Even services like dying, washing, ironing are also found in the corners of Industrial areas of Bangladesh. This happened because the demand for these industries are here. e.g. A Canadian button manufacturer would not make buttons in Canada, when their buttons are going to Bangladesh and coming back to Canada. So, it would be wise to establish the button factory in Bangladesh.
Therefore, you can find so many SMEs related to the Garments Industry here in Bangladesh. The link of this Blog Title is one of my blog which can help you find some information about how to find Garments Industry dealers (manufacturers, exporters, stock lot traders, accessories traders, etc.).
Bangladesh Garments Manufacturers and Exporters Association (BGMEA)
BGMEA is the largest export-oriented trade association in Bangladesh. And it is the community for the nationally acclaimed and largest export earning industry, i.e. the Garments and Apparel Industry of Bangladesh. The community has various corporate entities, like - manufacturers, processors, buying houses, textile consultants, investors, indenters, importers, and exporters.
BGMEA is attested by government bodies in Bangladesh by Export Promotion Bureau (EPB) and Ministry of Textile and Jute (MoTJ). It is also acclaimed by many international orginizations like WTO, ILO, UNCTAD. Moreover, it is supported by largest export earning industry.
When Bangladesh Knitwear Manufacturer and Exporter Association (BKMEA) was established, BGMEA has remained the largest association of companies mainly related to woven garments. However, the association never mentions or attest that they represent the woven garments portion of the total garments industry in Bangladesh, since they serve both woven and knit industries.
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