Bangladesh Textile Mills Association (BTMA) plans to expand capacity as the work orders flow is increasing and the global economies are opening. The association expects garment and textile machinery imports to rise in the current fiscal, says Mohammad Ali Khokhon, President.
Last fiscal, Bangladesh’s garments and textile machinery imports declined by 15.80 percent.
According to Bangladesh Bank data, in the fiscal year 2020-21, Bangladesh imported garment and textile machinery of $609 million against $723.56 million in the previous year.
Imports of textile machinery recorded a 6.72 percent decline to $177.24 million, which was $190 million, reports Textile Today. Garment machinery imports fell by 19.02 percent to $432 million, which was $533 million in the same period a year ago.
However, the overall imports of capital machinery in the fiscal year 2020-21 plunged by 12.39 percent to $3.74 billion, which was $4.27 billion in the last fiscal year.
Exporters faced order cancellation and slower work order inflows. Production capacity remained unutilized. There was no new investment and expansion. As a result, imports of capital machinery declined.
