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The Export Promotion Bureau (EPB) reports a decline in Bangladesh's Ready-Made Garment (RMG) exports to traditional markets, including the United States, the European Union (EU), and Germany during the first five months of FY’23. However, the country is finding support in the growth of exports to non-traditional markets, such as Australia and Japan.

In response to a growing trend of deceptive bargaining practices by certain global garment buyers, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) is stepping up its efforts to protect local exporters. Reports indicate an increasing number of incidents where buyers exploit exporters by demanding "illogical" discounts on clothing prices, prompting the BGMEA to consider blacklisting such entities.

 

As the year comes to a close, Japan's thriving apparel market is poised to achieve an impressive US $87 billion in sales for 2023, according to recent data. Projections indicate a continuous growth trajectory, with a Compound Annual Growth Rate (CAGR) of 2.42 percent anticipated from 2023 to 2027.

 

The textile sector, a vital contributor to Pakistan's economy, is grappling with challenges as the fluctuating prices of yarn create significant hurdles for small spinning mills. The impact is particularly pronounced on unit owners, both small and large, who are struggling to secure yarn at affordable rates amidst already escalating energy costs.

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