Once an industry completely dependent on crafting traditional cottage based footwear is now powerhouse in the Bangladeshi economy. The Industry we are talking about is ...
Bangladesh:
A Thriving Global Sourcing Hub
for Manufactured Goods
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Targeted Sectors
MPPE
The Medical Personal Protective Equipment (MPPE) market, valued at $83.91 billion globally in 2023, is projected to reach $128.57 billion by 2032, with a 4.9% CAGR. Bangladesh has emerged as a key player in this sector, leveraging its advanced textile capabilities and cost-efficient manufacturing. In FY 2020-21, MPPE exports from Bangladesh surged to $618 million, with Germany, the US, Belgium, and Turkey as primary markets.
With 33 companies actively producing MPPE, Bangladesh is focusing on innovation, such as biodegradable products made from jute, to meet global demand for sustainable solutions. Backed by government support and compliance with stringent standards, the country is well-positioned to expand its footprint in the growing MPPE market.
Plastic
The plastics industry in Bangladesh is a cornerstone of the nation’s economy, contributing significantly to both employment and trade. With an estimated 6,000 enterprises operating across the country, the sector provides jobs to over 1.5 million people and delivers a diverse range of products for local markets and international exports.
Plastics play a pivotal role in supporting other industries such as textiles, healthcare, construction, electronics, energy, and automotive manufacturing. The country’s production portfolio includes household goods, packaging for food processing and pharmaceuticals, FMCG packaging, accessories, toys, sanitary items, and construction materials like PVC pipes. In 2022-23, exports from the plastics sector reached USD 200 million, marking a 20% growth from the previous year. This dynamic sector continues to evolve, strengthening its position as a key driver of economic growth in Bangladesh.
Leather
Bangladesh’s leather industry, one of its oldest and most vital sectors, continues to play a significant role in the economy. In 2022-23, the sector saw exports rise to USD 1.92 billion, reflecting a 13.5% increase from the previous year. The country exports leather goods and footwear to more than 120 countries, showcasing its global reach and reputation for high-quality products.
The industry serves two key markets: a growing domestic demand and a strong export market. Locally, the sector thrives as consumer interest in leather goods expands, while exports remain essential to the country's economic growth, particularly to Europe, the U.S., and Japan. This balance between robust domestic consumption and thriving international trade has solidified Bangladesh’s position as a prominent player in the global leather market.
Footwear
Bangladesh’s footwear industry, encompassing both leather and non-leather segments, is a key contributor to the nation’s economy. In 2022-23, the sector achieved exports of approximately USD 1.52 billion, reflecting its rising global prominence. Export destinations include over 120 countries, with Europe, the U.S., and Japan being primary markets. The industry thrives on its cost-effective production, skilled labor force, and reputation for high-quality products.
Domestically, rising middle-class incomes and changing consumer preferences have fueled growth in both leather and synthetic footwear demand. Meanwhile, the non-leather segment, focusing on affordability and innovation, is expanding rapidly, capturing a broader market base.
Government support through policy incentives and infrastructure improvements has enhanced the industry's competitiveness. Efforts to adopt sustainable practices, such as eco-friendly manufacturing and compliance with global standards, align with international market trends. Together, these factors position Bangladesh’s footwear sector as a dynamic and growing industry with significant potential for long-term success.
Light Engineering
The light-engineering sector, often referred to as the "mother of all industries," plays a crucial role in supporting the industrial, agricultural, automotive, and construction sectors of Bangladesh. Key segments of this sector include bicycles, electrical goods and electronics, automobiles, and batteries. According to a recent study by the International Finance Corporation (IFC), this vibrant sector employs approximately 800,000 people nationwide, spanning 60,000 micro-enterprises and 12,000 Small and Medium Enterprises (SMEs).
Renowned for its contribution to import substitution and local manufacturing, the sector produces a wide range of components, machinery, and spare parts critical for the country’s economic development. Despite challenges like limited access to advanced technology and raw materials, the light-engineering sector has shown remarkable growth and potential, particularly with increasing demand for locally made products. With proper policy support and investment, this sector could become a key driver of industrial progress in Bangladesh.
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Articles
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