Banner1

The apparel industry in Bangladesh is witnessing a significant shift as imports of manmade fibers (MMF) surge, reflecting a strategic move to diversify garment manufacturing and capture a larger share of the rapidly expanding global market for non-cotton wear. Industry sources indicate a more than 13% increase in non-cotton fiber imports in the past calendar year, as Bangladesh aims to keep pace with the evolving landscape of global clothing demands.

After achieving significant success in international markets, numerous Vietnamese businesses are redirecting their focus towards the domestic market to cater to the increasing number of customers opting for homegrown products. While the textile and garment industry, accounting for over $44 billion in export turnover in 2022, has been instrumental in showcasing Vietnam's manufacturing prowess globally, experts emphasize the need to strike a balance between international and domestic market priorities.

Cambodia's exports of garments, footwear, and light manufacturing products to the United States experienced a slight decline of 0.89%, amounting to $8,144 million during the first eleven months of 2023 compared to the same period in the previous year, as reported by the Ministry of Commerce. This decline represents a nuanced shift in the trade landscape for Cambodia, a significant player in the global apparel and manufacturing sector.

India's apparel retail market is poised for significant growth, with revenues expected to reach $105 billion in 2024, according to Statista. The market is anticipated to experience a Compound Annual Growth Rate (CAGR) of 3.58% from 2024 to 2027.

  1. Prospects and Challenges: Indonesia Textile Industry Investment in 2024
  2. Bangladesh Aims to Slash Cotton Imports by 15% Through Garment Waste Recycling
  3. Cambodia Faces 14.8% YoY Decline in Textile-Garment Exports in Jan-Nov 2023
  4. Bangladesh Faces Decline in RMG Exports to Traditional Markets