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Home textiles shine as buyers shift orders to Bangladesh
Staff Correspondent | Published: 22:31, Jul 16,2022Home textiles shine as buyers shift orders to Bangladesh
Bangladesh’s earnings from home textile exports maintained a robust growth in the past two financial years and the earnings posted the second highest amount in...
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A Bangladesh Terry Towel and Linen Manufacturers and Exporters Association web site file photo shows terry towels.
Bangladesh’s earnings from home textile exports maintained a robust growth in the past two financial years and the earnings posted the second highest amount in the just concluded financial year of 2021-22 as global buyers shifted their orders to Bangladesh from other manufacturing countries, including Pakistan.
Exporters said that Bangladeshi manufacturers gained the confidence of global buyers through keeping the production uninterrupted during the Covid outbreak in 2020.
Though Pakistan was the leader of home textiles on the global market, the country lost some of its buyers during the global outbreak of pandemic due to the factory closure, they said.
Exporters said that buyers also shifted orders for home textiles from China and Turkey as factories remained closed in the countries due to the pandemic.
In the just concluded fiscal, the home textile sector remained as the second highest export earning sector after the readymade garment sector.
Export Promotion Bureau data showed that export earnings from home textiles in FY22 grew by 43.28 per cent to $1.62 billion from $1.13 billion in FY21.
Readymade garment export in FY22 grew by 35.47 per cent to $42.61 billion from $31.45 billion in FY21.
In the financial year 2020-21, home textiles export posted the highest 49.17 per cent growth and $1 billion dollar for the first time.
‘Shifting orders from Pakistan in the Covid outbreak was the prime reason for increasing Bangladesh’s export,’ Md Harun-Ar-Rashid, president of the Bangladesh Home Textile Manufacturers and Exporters Association, told New Age on Saturday.
He said that exporters of Bangladesh gained the confidence of global buyers through keeping production uninterrupted amid the pandemic, he said.
Harun said that Pakistan had been losing an increased number of global orders due to the electricity crisis and political instability.
Not only Pakistan, China and Turkey also lost many orders as buyers shifted those to other sourcing countries, including Bangladesh, due to the factory closure amid the pandemic, he said.
Harun said that there was a huge opportunity for Bangladesh to gain more share of home textiles on the global market, but it would not be possible to manage the orders without establishing a strong backward linkage industry.
EPB data showed that earnings from home textiles had started declining after FY18.
Export earnings from the sector in FY19 declined by 3.07 per cent to $851.72 from $878.69 million in FY18.
Earnings from home textiles in FY20 declined by 10.90 per cent to $758.91 million, the data showed.
M Shahadat Hossain, chairman of the Bangladesh Terry Towel and Linen Manufacturers and Exporters Association, said that Pakistan, China, Turkey and Bangladesh were the leaders of global home textile market.
Among the home textile making countries, Bangladesh still remains as an attractive sourcing destination for the global buyers as the other countries are facing energy crisis and political instability, he said.
Shahadat identified harassment of customs officials as one of the major barriers to maintaining export growth of home textiles.
