Knitwear’s Export of Bangladesh in 2024: A Comprehensive Trade Analysis

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Knitwear’s are a globally traded commodity due to the universal demand and the cost and production advantages.

Bangladesh, based in South Asia, sharing borders with Myanmar and India in the southeast and all other directions, has emerged as a top exporter of Knitwear’s in the international trade market. The developed factories and lines, along with the strong backward linkage ecosystem, have been considered beneficial for the overall export of Knitwear’s from Bangladesh. Bangladesh Import Data says, the establishment of relationships with global traders and the competitive price points for buyers set up by the domestic authorities as per the global standards have been fueling the revenue rate.

The improvement of the compliance and safety standards, along with the investment by manufacturers in sustainability programs, has led to an export trade value of Knitwear’s worth 12 billion US dollars in 2024. The investment in renewable energy and captive power for stabilizing the supply, along with the price competitiveness with local technical training programs, has been considered pivotal for the overall trade hike. Subscribe to Import Globals, an import export trade provider, to stay updated with the latest information regarding the knitwear export of Bangladesh via the Bangladesh Trade Data.

POLICY REFORMS SUPPORTING THE EXPORT OF KNITWEAR’S FROM BANGLADESH IN 2024

The export incentive schemes introduced by the government authorities have reduced the cost of raw materials import while making the hardware exports more competitive in the international trade market. The trade facilitation and digitization programs have reduced the delivery times while ensuring faster supply to the global traders.

The skills development and technical training programs are designed to enhance workforce productivity to match the quality standards as per the global demand. It has provided access to the factories to comply with their services as per the international strategy. Energy and infrastructure support were initiated to stabilize the electricity supply for factories. It has reduced the production downtime while supporting the regulatory flow of export production.

THE LEADING VARIANTS OF KNITWEAR EXPORTED FROM BANGLADESH IN 2024

Bangladesh, to thrive as a global exporter, has introduced diversification in the export of knitwear. As per the Bangladesh Export Data, the top 10 leading variants of knitwear exported from the nation in 2024 are,

· T-Shirts & Knitted Shirts — The annual valuation of T-Shirts & Knitted Shirts exported from Bangladesh in 2024–2.14 billion US dollars

· Sweaters — The annual valuation of Sweaters exported from Bangladesh in 2024–1.87 billion US dollars

· Underwear — The annual valuation of Underwear exported from Bangladesh in 2024–1.45 billion US dollars

· Polo Shirts — The annual valuation of Polo Shirts exported from Bangladesh in 2024–1.2 billion US dollars

· Hoodies & Sweatshirts — The annual valuation of Hoodies & Sweatshirts exported from Bangladesh in 2024–1 billion US dollars

· Activewear & Sportswear — The annual valuation of Activewear & Sportswear exported from Bangladesh in 2024–854 million US dollars

· Baby & Toddler Knitwear — The annual valuation of Baby & Toddler Knitwear exported from Bangladesh in 2024–719 million US dollars

· Nightwear & Loungewear — The annual valuation of Nightwear & Loungewear exported from Bangladesh in 2024–658 million US dollars

· Thermal Wear — The annual valuation of Thermal Wear exported from Bangladesh in 2024–562 million US dollars

· Maternity Wear — The annual valuation of Maternity Wear exported from Bangladesh in 2024–435 million US dollars

THE TOP 10 EXPORT TRADE PARTNERS OF BANGLADESH IN 2024

The country, with its various pricing strategies adopted and the trade environment maintained, has built up a suitable bilateral relationship with the topmost authorities. According to the Bangladesh Customs Data, the top 10 export trade partners of the nation for knitwear’s exported in 2024 are,

1. United States — The export trade value of knitwear’s exported from Bangladesh to the United States in 2024–2.86 billion US dollars

Top 5 variants of knitwear exported