Knitwear industry is the most significant component in the textile industry of Bangladesh. It is the second largest sector in the country constituting a 32% of share in the export market.
The immense growth of the knitwear industry has motivated the manufacturers to explore overseas market. Knitwear manufacturers of Bangladesh propose to explore potential market in African countries.
During the financial year 2009, exports of woven and knit garment exports to South Africa amounted to US $42.51 million. South Africa is a country rich in minerals. The country has an untapped market, offering profitable opportunities for garment exporters and is currently dominated by Chinese clothing companies.
EU and US were the major markets for Bangladesh. With the global downturn, and declining export orders, Bangladeshi exporters are now exploring untapped and new potential markets.
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Fibre2fashion News Desk - India
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