Bangladesh lags behind MMF product exports

Staff Reporter :
At the moment, 50 percent of global ready-made garment (RMG) exports are man-made fibres (MMF). Within 2030, the exports of MMF products will account for 60 percent of total exports.

However, MMF’s share in Bangladesh’s RMG exports is still very low, below 30 percent. Bangladesh has remained behind in a race with other countries.

The information was revealed by PricewaterhouseCoopers (PwC), a multinational professional services brand, on Thursday at the Uttara Bangladesh Garment Manufacturers and Exporters Association (BGMEA) office.

The study titled ‘From Shirts to Shores: A Blue Print for Bangladesh RMG Industry’ was conducted by PwC as part of the road map for the post-corona period and the target of $100 billion garment exports from Bangladesh by 2030.

PwC said, “Bangladesh’s export rate of MMF products to competing countries currently ranges from 44 to 62 percent.

As a result, Bangladesh is far behind in this field. Therefore, in order to maintain global export demand, Bangladesh should also pay more attention to the production of MMF-based garments.”

According to the report, the global export of ready-made garments in 2013 was about 794 billion dollars.

Among them, the share of products made of MMF was 46 percent. In 2022, global apparel exports increased to 953 billion dollars, while MMF’s share was 50 percent.

According to PwC, by 2030, global apparel exports will reach 1,121 billion dollars. There, the share of MMF products will be 60 percent.

Among the competing countries, currently (as of 2022), China, Vietnam, Turkey, and Italy are ahead of Bangladesh in the export of MMF garments.

In contrast to total garment exports, China’s share in MMF is 62 percent, Vietnam’s 56 percent, Turkey’s 48 percent, and Italy’s 44 percent.

On the other hand, 27 percent of Bangladesh’s total garment exports are MMF products. Enrich and edit