Which textile industry is most threatened by globalisation?

The number of garment workers in Bangladesh has plummeted by 90 per cent since the closure of its factory in 2013, the country’s top textile industry body said on Tuesday.

“The textile industry’s decline in recent years is primarily the result of globalisation and the import of cheap garments,” the Textile Manufacturers’ Association of Bangladesh (TMAB) said in a statement.

Bangladesh’s textile industry accounts for around 70 per cent of the countrys total exports.

It employs about 50,000 workers, according to the Bangladesh Cotton Council.

The industry had also suffered a decline in the past few years.

In 2014, the industry reported a net loss of $1.1bn and was in the process of shedding around 50,00 jobs, according a report in Bangladesh’s Dhaka Tribune newspaper.

But the downturn was not limited to the textile industry.

“The global textile industry faces significant challenges.

The slowdown in global trade and the increased use of digital technologies in the global market have had a significant impact on the textile sector, affecting the production of textiles,” TMAB said.

Its statement comes after the Bangladesh government last month banned imports of all textile products made from polyester, a highly expensive textile, amid a global glut.

The ban on polyester imports was in response to growing concerns about the impact of cheap polyester and other cheap materials on the country, said a statement by the TMAK.

A number of global textile companies, including H&M and Zara, have moved to source their textile fabrics from countries such as China, Vietnam and South Africa.

There have been a number of reports of textile companies using cheap Chinese fabrics, including in its new $1m clothing line for the Olympics.

However, the textile trade is still a big business in Bangladesh.

Bangladesh’s GDP is estimated at around $1bn, and the country exports nearly $5bn worth of clothes to the rest of the world.

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