Home Textiles Are Now the Second Most-Exported Item

Home Textiles Are Now The Second Most-Exported Item

From July 2021 to April 2022 of the current fiscal year, exporters earned $1.3 billion from the sale of home textiles, a 39 percent increase over the same time in the prior fiscal year. During the period, exports of home textiles like bed sheets, pillow covers, curtains, and cushion covers brought in 28% more money than exports of agricultural goods like dry foods, vegetables, tobacco, and spices.

According to the Export Promotion Bureau (EPB), 2020-21 fiscal years second-largest revenue earning export item was jute and jute items, which slid to fifth place due to declining demand for jute yarn, twine, sacks, and bags.

Shahidullah Chowdhury, executive director of Noman Group, the leading exporter of home textiles, stated, “We have seen an increase in demand for home textiles since the end of the past fiscal year when people stayed at home to prevent the spread of coronavirus.” Each month, this company exports home textiles valued at $27 million. “Europe, Canada, the United Kingdom, and Japan are our principal markets. Nonetheless, our exports are expanding into other markets, such as Australia, “he also remarked.

A 49% year-on-year increase in export revenues in fiscal 2020-21 pushed the industry above the $1 billion barrier for the first time, mainly due to rising raw cotton and other material prices. The EPB says that export earnings made up only 3% of total revenues of $38.75 billion that year and that garments made up 81% of those earnings.

Abul Basar, general manager of human resources, administration, and compliance at Momtex Expo Ltd, another major exporter, said, ”There is no doubt that exports have also gone up. Bangladesh can offer competitive prices because it has the lowest cost of labor. On the other hand, China, which used to be the leader in home textiles, has seen its labor costs rise. Also, due to political instability, Pakistan has discouraged buyers from placing orders. So, we can expect a much higher number of orders.”

According to Industry experts, exports would blossom if the government helped with policy. Raising the cash incentive for exports from 4% to 10% and making it easier to get in and out of ports will help increase the amount of money that home textiles exports bring in.

Leave a Comment