Bangladesh's ready-to-wear apparel market size over the next 10 years

According to the report of the Bangladesh Daily Sun on May 11, Ziaur Rahman, the regional head of H&M Group in Bangladesh, Pakistan and Ethiopia, said at the two-day "Sustainable Clothing Forum 2022" held in Dhaka that Bangladesh has the potential to achieve an annual ready to wear export of 100 billion dollars in the next 10 years.

Meng is one of the main purchasing places of H&M Group's ready-made clothes, accounting for 11-12% of its total outsourcing demand. Ziaur Rahman said that Bangladesh's economy is very good, and H&M Group is purchasing ready to wear products from 300 factories in Bangladesh. Shafiur Rahman, regional operation manager of G-Star RAW, a denim company headquartered in the Netherlands, said that the company purchased denim from Bangladesh with a value of about $70 million, accounting for about 10% of its global total procurement. G-Star RAW planned to purchase denim from Bangladesh with a value of up to $90 million.

According to the data of Export Promotion Bureau of Bangladesh (EPB), the export volume of ready to wear in the first 10 months of fiscal year 2021-2022 rose to 35.36 billion US dollars, 36% higher than the same period of the previous fiscal year and 22% higher than the expected target of this fiscal year.