06 March 2023, Mumbai 

It's worth noting that despite the global geopolitical tensions and predicted economic slowdown, the RMG industry in Bangladesh is showing some promising signs of growth.

This is due in part to significant investments in backward linkage and the production of high-end sophisticated fashion items like jackets, activewear, and suits.

As per the statistics compiled by BGMEA from the EPB’s export data for the period of July-February of the fiscal year 2022-23(for the period mentioned July 2022 to February 2023) :

• Overall RMG export grew by 14.06% during the mentioned period of time on a year-over-year comparison.
• Bangladesh’s RMG export to the world was US$ 31.36 billion which is 84.58% of total national export.
• Export earnings from knitwear fetched US$17.06 billion, with 13.21% year-over-year growth.
• Export earnings from woven garments fetched US$14.30 billion, with 15.08% year-over-year growth.
• During the month of February 2023, RMG export stood at US$ 3.94 billion with 12.31% year-on-year growth, which was the lowest export within the last consecutive four months (from November to February).

Additionally, the industry's export to non-traditional markets is also increasing significantly. However, it's expected that future growth may be value-based rather than quantity-based due to the industry's progression to higher unit-value items.

Though the sources mentioned categorically, yet to compile the country-wise export data for this sector Putting the sector in quick perspective in Bangladesh's overall economy, the share of RMG in total export of Bangladesh has gone up to 83.57% in 2022 which was 80.98% in 2021.

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13 March 2023, Mumbai 

According to the data published by The published data of Bangladesh RMG exports by the Export Promotion Bureau, showed a growth of 10.12% in the first two months of 2023 Vs the corresponding period in 2022.

Not surprisingly many of the European Union accounted for the largest export destination for Bangladesh. The export to the EU was US$ 4.22 billion, showing a year-on-year growth of 8.42%.

Albeit, in the EU region few nations, such as Germany, Austria, Bulgaria, Denmark, Finland, Latvia, Malta, Poland, and Slovenia, showed negative growth traction.

Export to the U.S.A. and Canada downtrend by 13.79% and 3.49%, respectively, during the aforementioned period. Although, the export to the UK showed 21.63% year-on-year (Y-o-Y) growth traction, reaching US$ 964 million.

The country's export to non-traditional markets rose by 42.51% to US$ 1.64 billion, and Japan was the top-notch export destination with US$ 321.12 million. Other non-traditional markets, like Australia, India, South Korea, Turkey, and UAE, also showed an impressive upward trend, while exports to these countries were soft to Russia, China, South Africa, and Chile as exports shrank here.

Considering the global macro economy is unstable amid global turmoil, deeply impacting retail sales and resulting in downward/negative growth in some key consumption markets. This trend is likely to sustain for some time, making the coming months challenging.

Today it is business imperative for Bangladesh to explore new opportunities/non-traditional markets and concentrate on resource/cost optimization building efficiencies to tide over unprecedented times.

It's worth noting that despite the global geopolitical tensions and predicted economic slowdown, the RMG industry in Bangladesh is showing some promising signs of growth.

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03 March 2023, Mumbai

Hohenstein, an internationally recognized testing service provider, has acquired the DAkkS-accredited QAT Services Limited laboratory in Hong Kong.

This acquisition will facilitate Hohenstein to integrate the hard goods knowledge of QATS employees into their portfolio and provide full-service capabilities for Greater China and beyond.

The expansion into hard goods testing is a pretty strategic move for Hohenstein, which has been an acclaimed established service provider in the textile industry for decades. This step will enable Hohenstein to offer testing services for food contact materials, furniture, toys, and other products, ensuring the safety of products and creating secure jobs.

According to Prof. Mecheels, the owner and CEO of Hohenstein, this expansion is a strategically vital step for the company.

Christopher Au, the Managing Director of Hohenstein China, is also quite assured that this step will set an important focus and consolidate the company's position for international customers across geographies.

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16 February 2023, Mumbai

We are sharing herewith the US-based agency Office of Textile and Apparels (OTEXA)'s US apparel import data released recently. The report mentions that the USA imported an accumulated apparel/garments worth 9.74 billion dollars of clothing from Bangladesh apparel exporters in the year 2022 as a proof of concept. 
What is particularly noticable to observe is that Bangladesh's apparel industry has clocked the maximum growth rate amongst the competing nations for the top slot and thus notched up the honor of being a top-most exporter of denimwear to the US market.
As per BGMEA spokesperson," As a word of caution, it is vital to note that the sense of complacency to your peril, given the impending slowdown in the US retail market, been witnessed through recent months has already led to shrinking global imports, and no surprise Bangladesh's merchant exports to the US market have also shown some decline in the remainder last two months of November and December 2022.
It will be essential to keep a close tab on the emerging market trends and chart out appropriate strategies enabling sustained growth in the US market in the coming months & seasons".

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11 March 2023, Mumbai 

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03 March 2023, Mumbai

That sounds like a wonderful way to commemorate this historic month.

Libraries are an excellent way to promote education and learning, and naming them after a respected figure like Prof. Dr. Mazharul Islam is a fitting tribute.

In 2022, Bangladesh has set a new milestone of USD 45.70 billion RMG export. As per BGMEA analysis, Bangladesh’s RMG export has increased by 27.64% in 2022 compared to 2021.

It's important to remember and honor the contributions of those who have paved the way for its nation's progress and development.

March certainly holds a special place in the hearts of Bangladeshis, as it represents the resilience, courage, and determination of our people in the face of adversity.

It's a time to reflect on its past struggles, celebrate its present achievements, and look forward to a brighter future.

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31 January 2023, Mumbai

Texworld Evolution Paris will open its doors from 6 to 8 February 2023 at the Paris-Le Bourget Exhibition Centre.

Texworld Evolution Paris, the upcoming fashion industry trade show, will have 750 exhibitors from 20+ countries, focusing on global sourcing for fashion brands. The show will host 460 textile exhibitors, including 220 Chinese companies, and 270 finished product exhibitors, including 210 Chinese manufacturers.

In total, 40 African companies will be present, a sign of the growing importance of this sourcing zone. African presence will also be strengthened with 40 companies from Ethiopia and Senegal. The show is expected to provide a unique perspective on the new balance of international sourcing zones after the COVID crisis and the return of Chinese exhibitors.

An event that confirms the recovery of the textile and clothing (T&A) market.

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06 March 2023, Mumbai 

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27 February 2023, Mumbai

EU apparel imports trade data
EU's apparel imports pie quick breakdown from a bunch of countries such as Bangladesh, China, Turkey, India, Cambodia, Vietnam, Pakistan, Morocco, Sri Lanka, and Indonesia.

Heartening to notice that notwithstanding the cloudy global economic outlook and fears of recessionary concerns around the EU, the EU's imports of apparel have only risen from a range of countries during the period of January-November 2022.

Only corroborating what today's ET report mentions quoting the IMF chief rather optimistically," In the larger context world has started to see economy showing palpable signs of global growth having bottomed out against the backdrop of inflation having come off the boil which bodes well".
Amongst the key findings is Bangladesh's apparel exports to the EU have clocked considerable growth traction of 38.39% Vs the corresponding period in 2021, as Bangladesh continues to consolidate its global position as a sourcing destination for the EU.

Little wonder, China remains the largest apparel supplier to the EU, well followed by Bangladesh and Turkey. Notably, the EU's imports from India have also risen overwhelmingly, mirroring how India is firming up its potential as a preferred sourcing destination for apparel.

Again, what is noticeable is EU's imports from many other countries have also shown positive growth during the aforementioned period countries as Cambodia, Vietnam, Pakistan, Morocco, Sri Lanka, Indonesia, etc.

Sum and substance
Not going away the fact that prevailing concerns about inflation and geopolitical tensions stay and cannot be resolved in a hurry affecting global consumption and discretionary spending and impacting the clothing market, and leaves sectors to fend for themselves in how respective sectors take it in their stride & respond to these challenges moving ahead.

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30 January 2023, Mumbai

The Sustainable Apparel Coalition (SAC) has partnered with the Bangladesh Apparel Exchange (BAE) for the 4th edition of the Sustainable Apparel Forum, taking place on March 15-16, 2023. The forum will focus on 5 key areas of the apparel and textile supply chain: circular economy, climate impact, renewable energy, skill development, and green job prospects.

Delegates from garment manufacturers, brands, government officials, and impact organizations will be in attendance.

The first day will be for roundtable discussions, while the second day will feature panel discussions, keynote speeches, and strategic guidelines from industry leaders. Vidhura Rapanawe, Andrew Martin, and Joyce Tsoi from the SAC will participate in a discussion on decarbonization. The SAC and BAE previously partnered in 2019 and aim to find deeper collaborations in the industry to promote sustainability and responsibility.

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