Export of Textile from Bangladesh - Bangladesh Import Data

Bangladesh is a major exporter of textiles, particularly ready-made garments, and the industry plays a crucial role in the country's economy. In 2020, the textile and apparel industry accounted for over 83% of Bangladesh's total export earnings, according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

History and Development of the Textile Industry in Bangladesh

The textile industry in Bangladesh started to take off in the late 1970s and early 1980s. Initially, the industry mainly produced basic items such as shirts, trousers, and T-shirts. However, over time, it has developed into a major producer of high-quality clothing for global markets. The industry's rapid growth is attributed to a few factors, including a large pool of low-cost labour, government support for the sector, and preferential market access granted by developed countries.

Export Products:

Bangladesh exports a wide range of textile products, including knitwear, woven garments, denim, home textiles, and other textile items. Knitwear and woven garments are the main export products, accounting for over 85% of the country's total textile exports. Bangladesh is also one of the world's largest exporters of denim products.

Export Destinations:

The major export destinations for Bangladesh's textile products are the United States, the European Union, and Canada. According to the BGMEA, in 2020, the United States was the largest export market for Bangladesh's textile products, accounting for around 23% of the country's total textile exports, followed by the European Union with around 21% and Canada with around 5%.

Export Procedures:

To export textile products from Bangladesh, exporters need to follow certain procedures and comply with relevant laws and regulations. The Bangladesh Export Promotion Bureau (EPB) is responsible for promoting and facilitating exports from the country. The EPB issues export registration certificates to exporters, which are required for all exports. Exporters also need to obtain necessary licenses, permits, and certifications from relevant authorities.

Challenges and Future Prospects:

The textile industry in Bangladesh faces several challenges, including rising production costs, competition from other countries, and concerns about worker safety and rights. In recent years, the government and industry stakeholders have taken steps to address these challenges, including improving worker safety and increasing wages.    

Despite these challenges, the future prospects for Bangladesh's textile industry are generally positive. The country's strategic location, low labour costs, and preferential market access to major markets give it a competitive edge over many other countries. The government and industry stakeholders are also working to develop the sector further and increase the value of exports.

Bangladesh Import Data is available from a number of sources and can be useful for businesses looking to trade with or invest in Bangladesh. Import data can provide insights into the types of products that are in demand in Bangladesh, the volume of imports, and the countries that are the main trading partners.

There are various online platforms and market research firms that offer Bangladesh Import Data, including customs data, Bangladesh shipment records, and trade statistics. Some of the leading sources of import data for Bangladesh include Trade Map, Import Genius, and Export Genius. These platforms offer data on various sectors such as textile, agriculture, electronics, and others.

By analyzing import data, businesses can gain insights into market trends and make informed decisions about which products to import, which suppliers to work with, and how to price their products competitively. This data can also be used for market research, identifying potential competitors and understanding the regulatory environment for different products.