Bangladesh Textile Manufacturing Industry Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Bangladesh Textile Manufacturing Industry Analysis:

1. The textile manufacturing market in Bangladesh is projected to experience significant growth in the coming years. According to forecasts, the market size is expected to increase from USD 17.99 billion in 2023 to USD 23.86 billion by 2028, with a compound annual growth rate (CAGR) of 5.81% during the forecast period. This growth can be attributed to various factors such as increasing demand for textiles, favorable government policies, and investments in the sector.

2. The COVID-19 pandemic had a profound impact on the textile manufacturing industry in Bangladesh. During the first half of 2020, the industry faced challenges such as labor shortages and logistical difficulties due to the country’s lockdown measures. Additionally, the closure of physical retail stores and supermarkets as per government restrictions resulted in a decline in textile sales. However, the crisis also acted as a catalyst for the growth of e-commerce sales in the market.

3. The textile sector plays a crucial role in Bangladesh’s economy, contributing more than 13% to the country’s GDP. Textiles and textile-related products account for over 84% of the country’s export earnings. Bangladesh has made significant investments, approximately USD 15 billion, in the primary textile sector to meet the growing demand for yarn and fabric. The Primary Textile Sector (PTS) plays a vital role in fulfilling the demand for local fabric and yarn for handlooms. The Bangladesh Textile Mills Association (BTMA) serves as the national trade organization representing manufacturers and processors in the private sector, with a membership of 1,728 mills.

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