According to the World Trade Statistical Review 2021, Bangladesh became the world’s seventh largest importer of textiles in the previous year.
The World Trade Organization (WTO) released a study last week that indicated Bangladesh’s imports of textiles from other nations will be US$ 8.81 billion in 2020.
In the previous year, the country was the fifth highest importer of textiles, with $9.91 billion spent on textile imports.
Bangladesh’s annual imports of textiles in the last year declined by around 17 per cent. European Union remained the top importer followed by Vietnam. China remains the top exporter of textile in the world followed by the EU and India. The share of Bangladesh in the global textiles import market also declined to 2.46 per cent in.