Leaders in the textiles and apparel industry reported a substantial decrease in the imports of crucial raw materials, including cotton, yarn, and fabric, for readymade garment production in 2023.
Media reports maintained this adding the country’s textile mills operated at half their capacity during the year due to a shortage of gas supply and sluggish demand for readymade garments (RMG) in the global market.
Data from Bangladesh Bank, compiled by the Bangladesh Textile Mills Association (BTMA), revealed that cotton imports experienced a significant decline of 24.85 per cent, dropping to 1.35 million tonnes in 2023 compared to 1.80 million tonnes in 2022.
BTMA President Mohammad Ali Khokon attributed this decline to the gas shortage, forcing spinners to run their units at reduced capacity. Some spinners without access to the export development fund also encountered challenges importing cotton due to a dollar crisis in the country.
Further analysis of BTMA data indicated a 10.11 per cent decrease in yarn imports to 0.92 million tonnes in 2023 from 1.03 million tonnes in 2022. Additionally, woven fabric imports declined by 14.49 per cent to 0.49 million tonnes, and knit fabric imports fell by 10.34 per cent to 0.32 million tonnes during the same period.
