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In a groundbreaking move, Bangladesh is poised to revolutionize its textile industry by significantly reducing cotton imports through the efficient recycling of garment waste. Industry insiders reveal that this strategic initiative not only promises substantial cost savings but also opens the door to billions in additional annual revenue.

Cambodia's textile-garment sector has encountered a significant decline in exports, registering a 14.8% year-on-year (YoY) drop in the first 11 months of 2023. According to data from the commerce ministry, global economic slowdown, particularly in the European Union (EU), is cited as the primary factor behind this downturn.

The Export Promotion Bureau (EPB) reports a decline in Bangladesh's Ready-Made Garment (RMG) exports to traditional markets, including the United States, the European Union (EU), and Germany during the first five months of FY’23. However, the country is finding support in the growth of exports to non-traditional markets, such as Australia and Japan.

In response to a growing trend of deceptive bargaining practices by certain global garment buyers, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) is stepping up its efforts to protect local exporters. Reports indicate an increasing number of incidents where buyers exploit exporters by demanding "illogical" discounts on clothing prices, prompting the BGMEA to consider blacklisting such entities.

  1. Japan’s Apparel Retail Market Flourishes, Hits US $87 Billion in 2023
  2. Fluctuating Yarn Prices Hit Small Spinning Mills in Pakistan
  3. Crisis Hits Indonesian Textile Industry: Factories Close, Mass Layoffs Continue
  4. China's Cotton Production Faces 6.1% Decline in 2023 Amid Unfavorable Weather