Abdullah Al Mamun, Business Unit Manager, Marks & Spencer
In 2022, Bangladesh retained its second position as an apparel exporter globally after China. Demand for Bangladesh products is still very high despite higher inflation in Europe. Responsible factors can be the US-China tariff war, competitive prices, recent improvements in workplace safety conditions, etc.
This year, Bangladesh also established its position as a reliable supplier of apparel items as the country has been among a few nations that have kept its factories open since the coronavirus pandemic hit the world in March 2020.
Throughout the crisis, local suppliers exported more to non-traditional markets such as India, China, Japan, and Russia, along with traditional markets, the EU, the US, and Canada. Bangladesh is also focusing on value-added high-end garment items and expecting at the end of the current year, Bangladesh’s share in the global apparel market will cross 7.5% from the existing 6.4%
Although Govt Sets GDP target of 6.5% is due to predictions of economists around the country. Organizations like the World Bank, the International Monetary Fund (IMF), and the Asian Development Bank (ADB) also bet on a 6%-6.6% growth in various reports.
