Prospects for the textile and clothing industry in Bangladesh, 2019

Bangladesh is the world's second largest clothing exporter. Furthermore, it is the second biggest clothing supplier to the EU and the third biggest clothing supplier to the USA. Between 2011/12 and 2017/18, Bangladeshi clothing exports grew by more than 60% to reach almost US$31 bn, which accounted for almost 85% of the country's total exports.

The clothing industry's development has been aided by government policies aimed at encouraging foreign investment and allowing private enterprise to take the leading role. The industry has set an ambitious clothing export target of US$50 bn for the country's 2020/21 financial year. But to achieve this target, it will have to continue to tackle issues of occupational safety, regulatory compliance and labour rights.

Looking further ahead, Bangladesh could lose its tariff-free access to European, Canadian and Australian markets if, as expected, it graduates from least developed country (LDC) status and becomes a middle income country in 2021. If this were to occur, imports from Bangladesh into a number of major markets could become subject to additional tariffs and this could result in a loss in export earnings.

On the positive side, labour costs in Bangladesh remain very low, problems of occupational safety are being addressed and the country's clothing industry has strong links with many leading Western retailers. This report looks at the development of the textile and clothing industry in Bangladesh, its size and structure, and production and consumption.

The report also features: a geographical, political and economic profile; a detailed look at the country's imports and exports; a review of government policies, investment incentives and foreign investments; a look at Bangladesh's infrastructure and human resources and how these affect the textile and clothing industry; and an analysis of its strengths, weaknesses, opportunities and threats (SWOT).
Source: https://www.innovationintextiles.com

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