Local spinners have been focusing on increasing capacity given the rise of apparel export in recent times. For long the country holds an upper hand in exporting cotton-based apparel items. As a result, Bangladesh is becoming a major yarn, fabrics and other textile raw materials exporting destination.
But after the recent govt. initiatives to incentivize the sector, the export of yarn, fabrics and waste yarn is boosting the export. According to data from the Export Promotion Bureau (EPB), in the July to November period of FY 2021-22, $80.48 million worth of yarn, fabrics and waste yarn were exported. Noting a 38.73% year-on-year growth.
While in FY 2020-21, the export growth was 15.52% and earned $154.29 million.
Mohammad Ali Khokon, President of Bangladesh Textile Mills Association (BTMA) said to the media, “The export of yarn and fabrics is not very profitable. The export incentive from the government has made the business viable.”
Adding that an additional 2.5 million spindles will be added in the next two years. And at present, 13.5 million spindles are used to manufacture textile raw materials.
On top of it, a lot of emphases has been given to making man-made fibers. As globally its demand has been growing.
As per the media report, Khokon said the millers and yarn and fabrics users in Turkey, South Korea, Egypt and Taiwan are lobbying with the BTMA to buy more yarn and fabrics from Bangladesh.
