Bangladesh Garment Exports May Hit $100 Billion in 10 Years

According to Bangladesh's "Daily Sun" report on May 11, Ziaur Rahman, the regional director of H&M Group in Bangladesh, Pakistan and Ethiopia, said at the two-day "2022 Sustainable Clothing Forum" held in Dhaka, Meng has the potential to reach US$100 billion in annual garment exports in the next 10 years.
 

 

Meng is one of the main procurement places for H&M Group's ready-made garments, accounting for about 11-12% of its total outsourcing needs. Ziaur Rahman said that Bangladesh's economic situation is very good, and H&M Group is purchasing garment products from 300 factories in Bangladesh. Shafiur Rahman, the regional operations manager of G-Star RAW, a denim company headquartered in the Netherlands, said that the company has purchased denim from Bangladesh worth about 70 million U.S. dollars, accounting for about 10% of its global purchases. G-Star RAW has plans Sourcing up to $90 million worth of denim from Bangladesh.

 

According to data from the Bangladesh Export Promotion Bureau (EPB), the garment export volume in the first 10 months of the 2021-2022 fiscal year 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 for this fiscal year. %.