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Prospects for the Textile and Garment Industry in Bangladesh
published in Issue 135, May-June 2008
The textile and garment sector in Bangladesh fulfils a crucial role in the country’s economy. In the 2006/07 fiscal year (July 2006-June 2007), it accounted for as much as 76% of the country’s total exports. And in 2006 it provided jobs for 4.5 mn people, accounted for 10.5% of the country’s GDP, and contributed 40% of its manufacturing output.
Exports have been growing at an impressive rate in recent years. In 2006/07 alone, they increased by 18.2% to reach US$9.6 bn, a record level for the fifth consecutive year.
Looking ahead, Bangladesh has an excellent opportunity to boost exports of garments to the USA and EU countries where demand for low cost apparel is increasing. The introduction of quotas restricting EU and US imports from China in 2005 and 2006 respectively has already provided it with a breathing space in which to gain market share. So has the EU’s Generalised System of Preferences (GSP) scheme, which provides garment manufacturers in Bangladesh with duty-free access to the EU market—subject to certain conditions relating to the origin of the materials used in the manufacture of the garment.
However, there are significant obstacles to overcome if the industry’s full potential is to be reached. In the short term, the fermenting issue of employment conditions needs to be addressed. Also, economic difficulties in the USA and Western Europe, and the prospect of a recession, have already led to a slowdown in consumer spending. Unless there is a speedy recovery, exports of textiles and clothing from major suppliers such as Bangladesh could suffer as Western buyers cut back on their purchases. Over the longer term, considerable investment is required to improve, update and extend the infrastructure in Bangladesh. Meanwhile, the textile sector needs to implement its own modernisation programme in order to satisfy a greater proportion of the garment industry’s raw material requirements.
Six times a year, Textile Outlook International provides up to 200 pages of expert comment and analysis. A subscription provides an overview of the global fibre, textile and apparel industries. It is essential reading for senior executives in the fibre, textile and apparel industries – and for anyone who is not involved in the industry, but needs to quickly gain an understanding of the key issues.
Reports in Textile Outlook International include:
country profiles – providing a comprehensive guide to the textile and clothing industries in a range of countries and regions. The reports include an economic and political profile together with a comprehensive overview of the main issues, plus an outlook for the future.
company profiles – giving you the opportunity to learn from strategies employed by others. Companies profiled recently include retailers, manufacturers, innovators and sourcing companies involved in textiles and apparel as well as smaller companies which illustrate the opportunities for firms which are interested in selected sourcing locations.
trends in world textile and apparel trade and production – taking into account current issues facing the industry – such as global fibre prices; competition from China and other low cost countries; the elimination of quotas and imposition of selective new ones; relocation of production operations; the impact of economic factors affecting trade; international trade agreements; trade promotion agreements (TPAs); and much more.
trends in EU and US imports of textiles and clothing – providing comprehensive statistical data and analysis of the top ten supplying countries to the EU and US markets. These reports are updated each year and contain value and volume data as well as average prices and analyses of trends for up to 15 product categories.
innovations, technological developments, business development opportunities, individual sector analysis and political implications which affect players in the global fibre, textile and apparel industries. Some of the topics which have been covered in recent reports include: new innovations in the textile and clothing industry, such as environmentally friendly textiles, plant based fibres, and developments in textile colorants; innovations in textile machinery; and overviews of the European swimwear, hosiery and lingerie markets.
So whether you are involved in fibres, textiles or clothing – in manufacturing, spinning, weaving, knitting, sewing, import/export, retailing – or if you are in education or consultancy or investment or finance, a subscription to Textile Outlook International will tell you what you need to know about the key trends in the industry.
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