TF Local Desk
Bangladesh is in a standard label of home textiles. In 2016-17, Bangladesh’s home textiles exports increased 6.13% year-on-year. The country could have had a bigger share of the European home textile market if the exchange rate between the euro and the dollar were more favorable. Despite having a huge potential in home textiles, Bangladesh is unable to expand its market share in the European Union because of duty benefits extended to Pakistan, a cotton grower. Bangladesh, on the other hand, is a 100 % cotton importer.
Bangladesh has been competing with Pakistan in the same market in the same product category, so it is difficult to perform better. Currently Bangladesh has only five major home textile makers and exporters. There are some small ones whose volume is still low. In 2016, of the EU’s home textile imports, China accounted for 33%, Pakistan 25 %, Turkey 16 % and India 11 %. But Bangladesh’s share was seven to eight per cent. But still there are opportunities to do better in home textile as the country has skilled manpower and using latest technologies.