Bangladesh'S Garment Industry In The Next 10 Years

According to Bangladesh's daily sun on May 11, ziaar Rahman, regional head of H & M group in Bangladesh, Pakistan and Ethiopia, said at a two-day "sustainable clothing forum 2022" held in Dhaka on Tuesday that Bangladesh has the potential to export 100 billion US dollars of clothing annually in the next 10 years.

Bangladesh is one of the main purchasing places of H & M group's ready-made garments, accounting for 11-12% of its total outsourcing demand. Ziaur Rahman said Bangladesh's economy was in good shape and H & M group was purchasing ready-made clothing products from Bangladesh's 300 factories. Shafiur Rahman, regional operations manager of G-star raw, a Dutch based denim company, said that the company purchased denim worth about $70 million from Bangladesh, accounting for about 10% of its total global procurement. G-star raw has plans to purchase denim worth up to $90 million from Bangladesh.

The export volume of ready-made garments in the first 10 months of the fiscal year 2021-2022 rose to US $35.36 billion, 36% higher than the same period of the previous fiscal year and 22% higher than the expected target of this fiscal year, according to the Export Promotion Bureau of Bangladesh (EPB).

(source: website of the Ministry of Commerce)