Page 21 - TEXtalks International May/June 2022

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Bangladesh’s textile sector is

performing exceptionally for the country

Readymade garment (RMG) exports from Exports of woven apparel increased at a slower rate
Bangladesh achieved the target of the full fiscal year of 34.23% to $16.119 billion during the period under
in just 10 months. RMG exports were recorded at review, compared to exports of $12.008 billion
$35.362 billion in the first ten months of fiscal during the comparable period of 2020-21. Woven
2021-22, compared to the target of $35.144 billion and knitted apparel and clothing accessories’
set for the current fiscal, which will end on June 30, exports together accounted for 81.58% of $43.344
2022. According to the provisional data released by billion worth of total exports made by Bangladesh
the Export Promotion Bureau, Bangladesh’s RMG during July-April 2021-22. In the fiscal ending June
exports increased by 35.98% in the first ten months 30, 2021, readymade garment exports from
compared to exports of $26.004 billion in the same Bangladesh increased by 12.55% to $31.456 billion
period of the previous fiscal year. Knitwear export
performance remained better than woven RMG compared to exports of $27.949 billion in the
exports. Knitwear exports increased by 37.49% to previous fiscal. However, this value was lower than
$19.242 billion in July-April 2021-22, as against $34.133 billion in exports made during July-June
exports of $13.995 billion during the comparable 2018-19, which the country has already surpassed
period of the previous fiscal, as per the data. this fiscal.

Vietnam maintains its position as a

leading textile and garment exporter

Figures from the General Department of Customs showed that in the first quarter of 2022, the country’s export
value of textiles and garments reached $8.68 billion, up 20.3% year-on-year, marking the highest increase in
the past 10 years. Prospects for the world’s textile and garment industry are expected to be brighter in 2022.
Vietnam continues to maintain its position as a leading textile and garment exporter
in the US and EU markets.

The US continues to be the largest textile and garment import market from Vietnam with a value of US$4.3
billion, followed by the EU with US$896 million, and Korea with US$754 million. The positive signal of the
market and the initial control of the COVID-19 pandemic will help Vietnam’s textile and garment industry fulfill
its set export target of over US$43 billion by 2022, according to Vietnam Textile and Apparel Association.
Besides, Vietnam will also have opportunities to catch up with the trend of shifting the world’s textile and
garment supply out of China. Vietnam is one of the most potential and favorable destinations for manufactur-
ers, import and export distributors, wholesalers, and retailers worldwide. To maintain the leading position and
tap up opportunities post COVID-19, textile enterprises are accelerating to upgrade technology in production
chains as well as increase labor productivity.

May/June 2022