Bangladesh has been working to improve its attractiveness in the global apparel-sourcing market. During the period 2015-2021, apparel exports from Bangladesh increased substantially, from $30.3 billion in 2015 to $42.0 billion in 2021—a compound annual growth rate of 3 per cent. This makes the country the world’s second-largest exporter of apparel, with an increase in its share of
global apparel exports from 7 to 9 per cent.

Bangladesh will be promoted from the least developed country (LDC) category in 2026 and will need to conform to compliance requirements in the ready-made garment sector to retain its competitiveness in the global textile market. Achieving a better status in environmental and social sustainability will also help Bangladesh to gain a better bargaining position over pricing,
reach the BGEA export target of 50 billion dollars for apparel products, and eventually turn it into 100 billion dollars annually by 2030.

Click here for the full Bangladesh Knowledge paper bij Fibre2Fashion.