Bangladesh home textiles which produces high quality textiles for home furnishing, is looking at the EU to increase its market share. Analyst forecast export earnings from the country’s home textile segment would go beyond $1 billion by next year (2018) as the industry is seeing steady growth in international markets over the last couple of years. As per EPB statistics, the country’s home textiles export increased by 6.13 per cent to $799.14 million in the last fiscal year (2016-17). Around 70 per cent of the earnings come from the EU market.
Looking at the European Apparel and Textile Confederation, Euratex data, the EU imported home textiles worth $6.86 billion in 2016, where Bangladesh market share was 7 to 8 per cent. The value of global home textiles stood at $107.4 billion in 2014 and is expected to cross $131.5 billion by 2020. To this end, a group of local entrepreneurs are going to take part in a four-day International trade fair ‘Heimtextil Frankfurt 2018’ at Frankfurt in Germany early in next year. Heimtextil, the biggest international trade fair for home textiles, will be held from January 9, to 12, 2018.
The exhibition will showcase the world’s largest range of textile products. A wide range of products will be on display at the Heimtextil under the division of home textiles and the household textiles product segments, as well as a services segment. A total of 19 Bangladeshi entrepreneurs will take part in the exposition and display their products. Of these 10 will be participating with help from the Export Promotion Bureau (EPB) of Bangladesh.