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Denim exports to US up 42%

Staff Correspondent
23 Nov 2022 00:07:57 | Update: 23 Nov 2022 00:07:57
Denim exports to US up 42%

Bangladesh denim export to the United States (US) grew by 42.01 per cent to $739 million in the first nine months of this year when compared year-on-year.

It was $520 million in January-September 2021, according to the Office of Textiles and Apparel (OTEXA).

Besides, Bangladesh is also able to maintain the top rank in supplying goods to the US with 22.73 percent market share. Mexico is holding the second position while Pakistan the third.

Industry insiders said when the Covid-19 pandemic relaxed in the middle of the last year and brands started sourcing many new buyers started to come to Bangladesh due to Vietnam lockdown and China energy crisis. Besides, the country has also developed its infrastructure such as green initiatives and workplace environment which are also attracting buyers and increasing export.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Mohiuddin Rubel said, “We have performed well in the denim sector over the last few years and the US is now our one of the major markets.”

“However, due to the ongoing global economic crisis, our denim export earning began to decline from October. For this reason, the ongoing growth rate will come down at the end of the year.”

The OTEXA data showed that the US brands imported $3.25 billion denim goods in the first nine months in 2022 with 27.78 percent growth, which was $2.54 billion in the same period of last year. In January-September 2022, Mexico denim export to US rose 18.99 percent to $561 million. It was $472 million in the same period last year.

Pakistan denim export to US rose by 36.63 percent in the first nine months year-on-year to $377 million, which was $276 million in the same period of 2021.