Bangladesh is the second largest exporter of garments in the world. In 2016, Bangladesh’s RMG exports were 26.6 billion US dollars. It is one of the biggest pillars of the economy. The government has set a target of 50 billion exports by 2021. The main raw material for making garments is fabric. It is mainly divided into two sections woven and knit.
There is a demand of about three billion meters of woven fabric every year considering the current cost for export. In that context the local mill could produce about 45 million meters of fabric which is about 14-15% of the demand. The country spends about 4 billion USD a year on fabrics imports.
Since Bangladesh is still focused on cotton fabrics, woven apparel makers need to depend on imports to meet around 60% demand for non-cotton fabrics.
In 2015, Bangladesh imported US 5. 5.1 billion Worth of cotton-based materials or fabrics. Among imports, Bangladeshi purchases of mixed woven fabrics (393.1%), and knitted fabrics under 85% cotton (213.2%) increased rapidly from 2011 to 2015.The vast majority of raw materials like fabric, trim, and accessories for garment production are being imported from other countries like China, Turkey and India.
The process of fabric sourcing is very dynamic; it changes with the fabric type, cost quoted by fabric supplier, lead time, buyers requirement.
And finally need to do good branding of Bangladeshi fabric to the customers, so that they use Bangladeshi fabric to make garments in Bangladesh. And that’s how we will achieve our goal of 50 billion.
Best event organizer in Bangladesh Eco Expo, also working to make this achievement possible.
