Bangladesh Ceramic Industry Faces Export and Employment Decline in FY 2023-24
Bangladesh: The ceramic sector in Bangladesh, despite strong growth in previous years, experienced a decline in exports and direct employment in FY 2023-24. Ceramic product exports fell by nearly 2% to Tk 5.92 billion (EUR 46.8 million) from Tk 6.03 billion (EUR 47.7 million) in the previous year, according to the Bangladesh Ceramic Manufacturers and Exporters Association (BCMEA). Direct employment dropped by 7.09%, reaching 52,490 workers, down from 56,502 in FY 2022-23. The sector, which provides employment to nearly 0.5 million people directly and indirectly, has been affected by financial constraints, an energy crisis, and currency fluctuations. The import of ceramic products rose sharply by 50.24% to Tk 18.57 billion (EUR 146.9 million) in FY 2023-24, indicating rising domestic demand.
Experts highlight the need for government and industry collaboration to enhance competitiveness and explore higher-value market segments. BCMEA General Secretary Irfan Uddin pointed out that financial constraints and ongoing energy shortages are major challenges, leading some companies to cut jobs. Despite setbacks, the sector benefits from duty-free market access to the EU, UK, and other developed countries.
Source: The Financial Express