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Despite the Covid-19 pandemic, Bangladesh fetched US$7.14 billion from readymade garment exports to the US in 2021, keeping the market as its single-largest destination. The apparel exports to the US were 36.69 percent or US$1.91 billion higher than the 2020 earnings worth $5.22 billion. The 2021 RMG exports also surpassed the pre-pandemic level of 2019 when Bangladesh earned $5.92 billion. In 2021, Bangladesh shipped 2.60 billion square meters of apparel items, up by 37.87 percent from 1.88 billion square meters in the same period of 2020. Currently, the apparel industry is more favorable because of safety improvement and compliance, which boosted global buyers’ confidence to purchase clothing products from Bangladesh, besides, the sector went on a massive machinery upgradation scheme and good quality Yarn, fabric, Trims & Accessory imports; to ensure product quality, and the ability to produce & export value-added goods
Bangladesh has emerged as one of the major textile clothing products exporting nations. The demand for textile chemicals (dyes and auxiliaries) in the country has increased sharply in the recent years. In the fiscal year 2021-2022, Bangladesh exported Apparels worth US $42.613 billion, making it the second-largest apparel exporter in the world. The Dyestuff sector is one of the important segments of the chemical industry in Bangladesh, with a variety of sectors like textiles, leather, paper, plastics, printing inks and foodstuffs. The textile industry accounts for the largest consumption of dyestuffs at nearly 70%. Bangladesh is fully dependent on foreign Dyestuff and Chemicals. Every year, compared to local production, 95% of the Dyestuff and Chemicals are imported in Bangladesh mainly from China, India, Thailand, Taiwan, South Korea, USA, Germany, Italy, Spain, Singapore, Switzerland, Turkey. The Bangladesh Garment Manufacturers Exporters Association (BGMEA) revealed it is eyeing a 10% share of the global apparel market by 2025 and is aiming for an export target of US$100bn by 2030, making Bangladesh a highly potential market for Dyestuff and Fine & Specialty Chemicals.
Despite the Covid-19 pandemic, Bangladesh fetched US$7.14 billion from readymade garment exports to the US in 2021, keeping the market as its single-largest destination. The apparel exports to the US were 36.69 percent or US$1.91 billion higher than the 2020 earnings worth $5.22 billion. The 2021 RMG exports also surpassed the pre-pandemic level of 2019 when Bangladesh earned $5.92 billion. In 2021, Bangladesh shipped 2.60 billion square meters of apparel items, up by 37.87 percent from 1.88 billion square meters in the same period of 2020. Currently, the apparel industry is more favorable because of safety improvement and compliance, which boosted global buyers’ confidence to purchase clothing products from Bangladesh, besides, the sector went on a massive machinery upgradation scheme and good quality Yarn, fabric, Trims & Accessory imports; to ensure product quality, and the ability to produce & export value-added goods
