Cotton accounts for 93.57 per cent of the fiber imported by Bangladesh in 2018. Around 74.14 per cent of apparel exported in fiscal 2018-19 was made from cotton fibers, up from 68.67 per cent in fiscal 2008-09.

Since demand for cotton garment items is going down, exporters are getting lower prices from buyers. The preference for polyester, synthetic and viscose fibers arise from their durability and the ease in taking care of clothes made from them. Manufacturers in Bangladesh have been unable to realise the advantages, since manmade fibers account for just 20 per cent of the country’s apparel exports. They have continued increasing production of yarn and garment products from cotton every year. Of the 430 spinning mills in Bangladesh, only 27 churn out synthetic and acrylic yarn.

Synthetic fibers made up 45 per cent of the apparel traded globally in 2017 and witnessed a compound annual growth rate of five per cent between 2007 and 2017. Bangladesh has a five per cent share of the pie whereas Vietnam, its closest competitor in the apparel trade, has a share of ten per cent. In contrast, cotton accounts for around 35 per cent of the trade. Its CAGR is a negative 0.5 per cent.