Synergies Sourcing Bangladesh

Bangladesh now offers the lowest prices for apparel products to the UK market other than major exporters like China, India, and Turkey. The UK imports apparel 21.29%, 32%, and 26.75% cheaper from Bangladesh than China, Turkey, and India, respectively, during the January-October period of 2023.

Bangladesh's RMG exports to Poland reached $674.71 million in July–November of FY 2023–24, with a massive growth rate of 20.06% from the same period of the previous FY.

Bangladesh's RMG exports to UAE reached $170.74 million in July–November of FY 2023–24, with a massive growth rate of 45.42% from the same period of the previous FY.

Bangladesh's export earnings from merchandise shipment were down slightly in December by 1.06%, worth $5.3 billion. The total export figure was also 5.57% lower than the monthly target.

Bangladesh's RMG exports to the UK reached $2256.25 million in July–November of FY 2023–24, with a decent growth rate of 14.61% from the same period of the previous FY.

Spinning millers want 70% of local cotton yarn to be mandatory for RMG production. The BTMA mentioned in a letter to the National Board of Revenue Chairman that the value addition would be 65% while it would be 30% when produced with imported yarn. On the other hand, the apparel exporters stated that the demand is unacceptable due to the high price of local yarn.

Happy New Year from Synergies Bangladesh!

By recycling RMG waste, Bangladesh can generate $5 billion more in revenue and cut 15% of total cotton imports. According to BTMA, Bangladesh imported 18 lakh metric tons of cotton in 2022 and 12.27 lakh metric tons of cotton in the first 11 months of 2023. Bangladesh now generates $300 million to $400 million worth of recycled cotton by recycling 4 lakh metric tons of RMG waste, and the rest of the RMG waste ends up in landfills or is burned.

24 Bangladeshi factories have been certified as LEED-certified green factories in 2023. Among them, 16 were awarded the prestigious platinum rating, and another 8 achieved the gold rating. Now the total number of green factories in Bangladesh is 206.

Bangladesh's RMG exports to the world reached US$ 18,835.65 million in July–November of FY 2023–24, with a growth rate of 2.75% from the same period of the previous fiscal year.

Bangladesh's RMG exports to Italy reached $602.66 million in July–October of FY 2023–24, with a decent growth rate of 9.88% from the same period of the previous FY.

Merry Christmas from Synergies Bangladesh!

Bangladesh's RMG exports to New Zealand hit $56.68 million in July–October of FY 2023–24, with a massive growth rate of 39.63% from the same period of the previous FY.

Bangladesh's RMG exports to Brazil hit $46.39 million in July–October of FY 2023–24, with a massive growth rate of 45.71% from the same period of the previous FY.

Bangladesh has left China behind as the top knitwear supplier to the EU in the January–September period of 2023 in terms of US dollars and volume. The export amount was $9 billion, compared to $8.96 billion from China. In terms of weight, the EU's import from Bangladesh, it was 571 million KGs and 442 million KGs from China.

Bangladesh's RMG exports to Turkey hit $94.85 million in July–October of FY 2023–24, with a massive growth rate of 37.22% from the same period of the previous FY.

Bangladesh's RMG exports to South Korea hit $212.63 million in July–October of FY 2023–24, with a massive growth rate of 29.85% from the same period of the previous FY.

Happy Victory Day!

Bangladesh's RMG exports to Saudi Arabia hit $73.66 million in July–October of FY 2023–24, with a massive growth rate of 26.07% from the same period of the previous FY.

Bangladesh now hosts 54 top-ranked green factories out of 100 in the world. Most impressively, 9 out of the top 10 and 18 out of the top 20 are also included in the list.

Bangladesh, the global leader with the highest number of green garment buildings, now owns 204 LEED-certified green factories approved by the United States Green Building Council (USGBC). Out of 204 factories, 10 are silver-rated, 74 are platinum-rated, 116 are gold-rated, and 4 are certified factories.

Bangladesh's RMG exports to Denmark hit $421.53 million in July–October of FY 2023–24, with a massive growth rate of 18.62% from the same period of the previous FY.

Bangladesh's RMG exports to China hit $97.91 million in July–October of FY 2023–24, with a massive growth rate of 41.27% from the same period of the previous FY.

Bangladesh's RMG export to the world in November of FY 23–24 was $4052.55 million. Among the totals, woven was $1739.91 million and knit was $2312.64 million, with a growth rate of -12.59% and -3.18%, respectively, from the same period of the previous fiscal year.

Bangladesh's RMG exports to the world hit US$4052.55 million in November of FY 2023–24, with 7.45% negative growth from the same period of the previous fiscal year.

In the initial ten months of this year, Bangladesh experienced a significant decline of 24.75% in its apparel exports to the United States, which stands as its largest market by a single country, totaling $6.35 billion.

Bangladesh's RMG exports to the world reached $18.84 billion in the first five months of FY 23–24, with overall growth of 2.75 percent. Knitwear was $10.99 billion with a growth of 8.66 percent, and Woven was $7.85 billion with a negative growth of -4.52 percent compared to the same period of the previous year.

Total apparel exports in November from Bangladesh reached $4.05 billion, 27% higher compared to October. November's overall export earnings were $4.78 billion, which is 6% less compared to the same period of the previous year.

RMG exports from Bangladesh contributed to over 70% of total exports for the last three consecutive quarters. It was $11.61 billion, which remained at $8.2 billion after subtracting the import value of raw materials used in the sector, which was 70.78% of the gross export earnings in July–September of the fiscal year 2023–24.

Bangladesh, the global leader with the highest number of green garment buildings, now owns 204 LEED-certified green factories approved by the United States Green Building Council (USGBC). Out of 204 factories, 10 are silver-rated, 74 are platinum-rated, 116 are gold-rated, and 4 are certified factories.

Bangladesh's RMG exports to Ireland hit $90.41 million in July–October FY 2023–24, with a massive growth rate of 23.76% from the same period of the previous FY.