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.