Bangladesh's textile sector has taken the lead in foreign direct investment (FDI) inflows for the fiscal year 2022-23 (FY '23), despite an overall decline in FDI of over 7%, according to recent data released by Bangladesh Bank, the country's central bank.
Ho Chi Minh City, Vietnam, has become a bustling hub for the global garment-textile and footwear industries as a series of international trade fairs opened their doors at the Saigon Exhibition and Convention Centre on October 25.
Vietnam's trade ties with the United States continue to flourish, with September's exports to the U.S. reaching an impressive estimated value of $8.11 billion. These numbers have contributed to a remarkable total of $70.23 billion in exports to the U.S. during the first nine months of the year, solidifying the United States as Vietnam's top importer of commodities in this period. Notably, garment exports alone accounted for $11 billion of these exports.
The Pakistani textile industry faces a complex situation. Spinners are requesting concessions due to rising power and energy tariffs, but a surprising 33.5 percent surge in yarn exports during the first quarter of FY 2023 contradicts these claims. This period coincided with increased power and energy rates.
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