After a challenging 2023 due to global economic slowdown, textile machinery sales in Bangladesh are expected to rebound in 2024. This optimism stems from rising work orders from international clothing retailers and brands, indicating a recovery in the global clothing supply chain.
Due to reduced consumer demand and global conflicts, apparel sales in Bangladesh slowed in 2023. However, garment makers in the country are witnessing an increase their work orders this year, leading to a need for machinery upgrades.
The sales of textile machineries in the country are expected to rise this year with manufacturers seeking sustainable machines with lower water and energy consumption.
Abu Taleb Bhuiyan, CEO, Best Tex International, says, we expect machinery sales to rise to €20 million in 2024. Md Tanzilur Rahman, Senior Assistant Manager, Pacific Associates, adds, the company aims to sell $74 million worth of machinery this year.
Overall, the textile machinery industry in Bangladesh is cautiously optimistic about 2024, with increased demand and a focus on sustainability. However, challenges remain, and government support is needed for sustained growth.
The Bangladesh Textile Mills Association (BTMA) has urged the government to address gas price issues and loan defaults in the industry
