May 2024

Four years of declining imports and a downturn in industrial production

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The import of capital machinery, raw materials, and intermediate goods has sharply decreased in the current fiscal year, which has negatively impacted the country’s industrial production and employment levels. Data released on Monday by the Bangladesh Bureau of Statistics (BBS) indicate a marked slowdown in the growth of manufacturing output. Forecasts for FY24 suggest that …

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Reduced import taxes on renewable energy materials are demanded by RMG stakeholders

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The government is being urged to reduce import duties on solar power equipment and other renewable energy supplies by specialists in the garment sector and representatives from ready-made garment (RMG) companies. They also stress how important it is for governments to support the creation of domestic companies that produce equipment for renewable energy sources. This …

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Global e-commerce is dominated by online fashion shopping: Report

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According to the most recent ConsumerX 2024 research, online fashion shopping is driving global e-commerce, with 56.1% of respondents buying apparel and accessories online. Just 3.1% of respondents to the extensive study, which included 7,714 respondents, said they never purchase online, highlighting the increasing popularity of this activity. 37.8% of online shoppers make purchases at …

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By 2023, North America’s nonwovens capacity reaches 5.713 million tonnes

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According to the eleventh edition of the annual North American Nonwovens Supply report, North America’s nonwovens capacity reached 5.713 million tons in 2023. This report offers a complete assessment of the North American nonwoven material supply through 2023, including the critical parameters of capacity, production and operating rates, and regional trade. It is based on …

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K3 Fashion Portfolio introduces a product description generator powered by AI

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K3 Fashion Portfolio has furthered its position as the leading fashion-focused ERP platform by announcing the release of an AI-enabled product description generator in its flagship K3 Fashion solution. The most recent solution uses AI to completely transform how fashion firms manage and describe their products. It improves productivity and scalability through the smooth integration …

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The approved Export Policy Draft 2024–2027 intends to accomplish the FY ’27 export goal of US$110 billion

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The goal of the policy is to export items valued at US $110 billion in FY ’27. The approval resulted from the eighth CCEA meeting of the year, which was chaired by Finance Minister Abul Hassan Mahmood Ali and took place today in the Bangladesh Secretariat’s Cabinet Division conference room. Following the meeting, Md. Mahmudul …

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Amidst the Red Sea crisis, the garment supply chain is under significant pressure

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Supply chain pressure in the apparel industry is a major concern in the first quarter (Q1) of 2024 due to the ongoing Red Sea Crisis, which is exacerbated by geopolitical flashpoints in the South China Sea and the Panama Canal. According to GlobalData’s Company Filings Analytics Trends & Signals – Q1 2024 report, the Red …

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Levi Strauss Net Zero goal for 2050 is approved by SBTi

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The Science Based Targets Initiative (SBTi) has adopted Levi Strauss net zero targets for 2050. According to LS&Co.’s chief sustainability officer Jeffrey Hogue, the official approval by SBTi establishes a clear benchmark for all of Levi Strauss’s initiatives. “Therefore, we are aligning our supply chain emissions reduction pathways to be consistent with limiting temperature rise …

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Based on a recent estimate, the market for textile dyes is expected to reach $14.0 billion by 2027

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At a compound annual growth rate (CAGR) of 4.6%, the size of the worldwide textile dyes market is expected to increase from US $11.1 billion in 2022 to US $14.0 billion by 2027.The Asia Pacific market is experiencing strong demand due to the low cost of production in the region’s member nations. The rapidly expanding …

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Product tracing is added by S. Oliver to its online store

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There is now a tracing tool available for some products on the S. Oliver website, allowing buyers to obtain details like certificates and evidence of the sustainable materials used in each item of clothing. One of the traceable products is S. Oliver’s “empowering farmer’s collection,” which consists of clothing made from Indian organic cotton. The …

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