Despite the global economic downturn and the decline in orders, manufacturers in Bangladesh hope for a positive future.

They are confident buyers still trust Bangladesh and expect their share in the global apparel market to increase to eight per cent in 2021 from 6.26 per cent in 2020 and further rise in 2022 and onwards. No work orders have shifted from the country to competitors like Pakistan or Vietnam. The supply of electricity has improved and the gas supply is expected to be improved soon.There is a turbulent situation in the global economy and none of Bangladesh’s competitors have seen positive growth in recent months.

In the midst of several factors affecting the global economy, manufacturers in Bangladesh are now focusing more on branding both Bangladesh and the apparel industry of the country in the hope this will get more work orders. Bangladesh is now the second largest garment exporter in the world after China.Although there are some signs of a slowdown in garment exports now, because of the war-related crisis, the global economic turmoil, and a record inflation affecting retail businesses, it is expected that the shipment to new destinations, particularly to Asian markets, will witness growth.