Bizdata Insights Main Logo

BizData Insights

Woven Product Exports Increase by Only 0.47%

Industry: RMG & Textile
Economic Tag: Export

The prominence of woven products in Bangladesh’s ready-made garment (RMG) export earnings has dwindled since FY21, contrasting with the dominance they once held in the global apparel market.

In the first nine months of FY24, woven products registered only a marginal 0.47 % year-on-year growth, reaching $16.19 billion, while knitwear items experienced a robust 9.79 % growth, reaching $21.01 billion, according to data from the Export Promotion Bureau (EPB).

Recognizing the untapped potential of the woven sector, BGMEA has conducted research indicating that investments in non-cotton goods could yield substantial returns. With projections suggesting that RMG products made from man-made fibres (MMF) could capture 60 % of global garment exports by 2030, there is a clear opportunity for Bangladesh to capitalize on this market segment.

Source for more details:

Related News

Govt Takes Steps to Revive RR Textile and Rajshahi Textile Mills

May 29, 2024

The Government has taken significant steps to revive the RR Textile and Rajshahi Textile Mills in Sitakunda and Rajshahi, respectively, under the control of Bangladesh Textile Mills Limited (BTMC) through the Public-Private Partnership (PPP) system. The Cabinet Committee on Economic Affairs, chaired by the Finance Minister, has given in-principle approval to launch these two textile mills on a PPP basis.

Aman Cotton’s Losses Drop by 91%

May 28, 2024

Aman Cotton Fibrous Ltd reported a 91% year-on-year decline in losses for January-March 2024. The loss decreased to Tk 60.49 lakh from Tk 6.95 crore, with the loss per share dropping to Tk 0.06 from Tk 0.69. The yarn manufacturer attributed this improvement to an 11.13% price decline in raw cotton and a 3.4% increase in carded yarn sales.

Garment Exports to US Drop by 1.9%

May 28, 2024

Bangladesh’s readymade garment (RMG) export to the US, its largest market, dropped by 1.90% to $6.82 billion in July-April of FY24 from $6.95 billion in the same period of FY23, as per data from the Export Promotion Bureau (EPB).

RMG Industry Seeks Tax Breaks in FY25 Budget

May 28, 2024

In response to the slowdown in global demand and rising production costs, Bangladesh's garment industry is urging the government for tax breaks and extended policy support in the upcoming FY25 budget.

Jack Tech and BGMEA in Talks for Collaboration

May 28, 2024

A delegation from Jack Technology Co Ltd, a prominent Chinese sewing machine manufacturer, led by its CEO, visited the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) to explore potential partnerships aimed at enhancing the competitiveness of Bangladesh's ready-made garment (RMG) industry.

Garment Exports to EU Rise by 3.66%

May 28, 2024

During the July-April period of the current fiscal year, Bangladesh's garment exports to the European Union (EU) experienced a modest growth of 3.66 %, reaching $19.90 billion. Among EU member countries, Denmark saw the highest growth rate at 32 %, followed by Poland at 20.65 %, the Netherlands at 17.51 %, Spain at 6.07 %, and France at 3.42 %. Conversely, exports to Italy declined by 2.45 %.

Related News

Govt Takes Steps to Revive RR Textile and Rajshahi Textile Mills

May 29, 2024

The Government has taken significant steps to revive the RR Textile and Rajshahi Textile Mills in Sitakunda and Rajshahi, respectively, under the control of Bangladesh Textile Mills Limited (BTMC) through the Public-Private Partnership (PPP) system. The Cabinet Committee on Economic Affairs, chaired by the Finance Minister, has given in-principle approval to launch these two textile mills on a PPP basis.

Aman Cotton’s Losses Drop by 91%

May 28, 2024

Aman Cotton Fibrous Ltd reported a 91% year-on-year decline in losses for January-March 2024. The loss decreased to Tk 60.49 lakh from Tk 6.95 crore, with the loss per share dropping to Tk 0.06 from Tk 0.69. The yarn manufacturer attributed this improvement to an 11.13% price decline in raw cotton and a 3.4% increase in carded yarn sales.

Garment Exports to US Drop by 1.9%

May 28, 2024

Bangladesh’s readymade garment (RMG) export to the US, its largest market, dropped by 1.90% to $6.82 billion in July-April of FY24 from $6.95 billion in the same period of FY23, as per data from the Export Promotion Bureau (EPB).

RMG Industry Seeks Tax Breaks in FY25 Budget

May 28, 2024

In response to the slowdown in global demand and rising production costs, Bangladesh's garment industry is urging the government for tax breaks and extended policy support in the upcoming FY25 budget.

Jack Tech and BGMEA in Talks for Collaboration

May 28, 2024

A delegation from Jack Technology Co Ltd, a prominent Chinese sewing machine manufacturer, led by its CEO, visited the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) to explore potential partnerships aimed at enhancing the competitiveness of Bangladesh's ready-made garment (RMG) industry.

Garment Exports to EU Rise by 3.66%

May 28, 2024

During the July-April period of the current fiscal year, Bangladesh's garment exports to the European Union (EU) experienced a modest growth of 3.66 %, reaching $19.90 billion. Among EU member countries, Denmark saw the highest growth rate at 32 %, followed by Poland at 20.65 %, the Netherlands at 17.51 %, Spain at 6.07 %, and France at 3.42 %. Conversely, exports to Italy declined by 2.45 %.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here