Bangladesh’s exports of denim products to the USA, the country’s single largest export destination, rose by 14.20 per cent during the first nine months of the current year.
According to the Office of Textiles and Apparel (OTEXA) of the USA, Bangladesh fetched $419.21 million, up by 14.20 percent by exporting denim apparels to the US market during the January-September period of the year 2018. The amount was $367.10 million during the same period in last year.China, the largest exporter of denim products earned $683 million, up by 1.3 percent while Mexico has seen 1.08 percent rise to $595.40 million during the same period this year.
Trade analysts and industry insiders attributed the reasons mainly to technology improvement, new investment in fabrics manufacturing and safety standard improvement.
They also identified quality of products and competitive prices of goods for the rise on export earnings from the sector. Besides, the ongoing China-US trade war created an opportunity for Bangladesh denim.
“In recent years, Bangladesh has made huge investment in denim sector to install latest technology to improve product quality, while fabrics manufacturers invested hugely to increase the production capacity,” said Denim Expert Ltd Managing Director Mostafiz Uddin.
On the other hand, Bangladesh by this time has become well known to global buyers as a quality denim producer at reasonable prices. This has been possible as manufacturers’ efforts on branding such as participation in global expositions as well as organising international exhibitions in the country, said Mostafiz, also founder and CEO of Bangladesh Denim Expo, an international platform to promote Bangladeshi denim sector to the global buyers.
Every year we are organising the Bangladesh Denim Expo twice to make the manufacturers familiar with the latest technology and innovation. The ninth edition of the exposition will be held on November 7 and 8 in Dhaka, he added.Mostafiz urged the apparel makers to focus more on research and innovation to grab more global market share.
“With the help of global retailers, manufacturers have been able to make the sector safe for the workers, which increased buyer’s confidence to source more products from Bangladesh. As result, export earnings from the US market went up,” said Exporters Association of Bangladesh (EAB) President Abdus Salam Murshedy while talking to the daily sun.
On the other hand, the ongoing China-US trade has also emerged as a boon for the country’s apparel industry. Many of the US retailers are now shifting to Bangladesh because of quality products at affordable prices, said Salam, a former president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
Bangladesh’s denim fabrics mills are playing key roles in increasing the global market share as the sector is producing quality fabrics and exporting class-apparels meeting the local demands, said Salam also the managing director of Envoy Textiles, a LEED Platinum certified green factory in the world.
Exporting denim goods in FY17 Bangladesh earned $507.92 million, which was 9.55 percent up comparing to $463.61 million in 2016, according to data from the Office of Textiles and Apparel (OTEXA) in the US.