21 June  2023, Mumbai

The OTEXA has released data on United States apparel imports for January-April 2023, revealing a year-on-year decline.

USA's overall apparel imports from the world decreased by 22.15%, from US$ 32.38 billion in January-April 2022 to US$ 25.21 billion in January-April 2023. In terms of volume, imports slowed down by 31.09%, equivalent to 7.59 billion Square Meter Equivalent (SME).

Overall Imports Decrease

The top sourcing countries for apparel imports, including China, Vietnam, Bangladesh, Indonesia, and India, experienced significant declines in both value and volume, although Bangladesh had a relatively smaller decline compared to others.

During this period, USA's imports from Bangladesh dropped by 17.88% in dollar value and 30.49% in quantity, while overall imports from the world saw a decline of 22.15% in dollar value and 31.09% in quantity (SME).

Top Sourcing Countries Witness Substantial Declines

USA's imports from China, the largest source, declined by 32.45% in dollar terms and 34.74% in quantity, while imports from Vietnam, the second largest source, decreased by 27.33% in dollar value and 33.67% in quantity.

Negative Growth Observed

Negative growth was also observed in other top-sourcing countries, including Indonesia (25.57%), India (16.59%), Mexico (6.92%), Cambodia (34.53%), and Pakistan (29.73%).

Reflecting Industry's Focus on Higher-Value Segments

The unit price per SME (Square Meter Equivalent) increased by 12.98% for USA's overall imports from the world in January-April 2023. Import from Bangladesh recorded the highest increase at 18.14%.

Higher Value-Added Capabilities Drive Price Increase

This reflects the industry's shift towards higher-value segments of the market, although it also indicates rising raw material and production costs. Investments in non-cotton items and higher value-added capabilities are driving this increase.

To explore untapped opportunities in the US market, further efforts are needed, considering the industry's focus on greener, cleaner, and responsible manufacturing, as well as technology and higher value capabilities.

CREDITS: BGMEA press release

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26 May 2023, Mumbai  

Bangladesh Remains the Second Largest Apparel Import Source

Based on the Eurostat data, Bangladesh retains its position as the EU's second-largest apparel import source, accounting for 24.07% of the total import value during January-March 2023.

In terms of quantity, Bangladesh becomes the top sourcing country for the EU. In 2022, Bangladesh secured the highest position in terms of quantity. A separate email with a detailed analysis and datasheet will be sent.

Overall Decline in EU's Apparel Imports

The latest data reveals a 4.94% decline in EU apparel imports from the world during the mentioned period compared to the same period in 2022, amounting to a decline of 1.22 billion dollars.

In terms of quantity, EU's clothing import experienced a significant downturn of 12.64%, which is 136.88 million kilograms less than January-March 2022.

A decline in Import from China, Growth in Import from Bangladesh

EU's import from China, the second-largest apparel import source, declined by 17.80% in value terms during the mentioned period, while imports from Bangladesh showed a value-wise growth of 3.9%.

However, in terms of quantity, imports from Bangladesh declined by 3.67%, primarily due to inflated unit prices caused by increased raw materials, transportation, and production costs.

Positive Growth from Bangladesh, India, and Vietnam

Among the top ten apparel-sourcing countries, Bangladesh, India, and Vietnam demonstrated positive growth in EU's apparel imports. Import from Turkey, Pakistan, Sri Lanka, and Morocco, however, declined.

EU's imports from Turkey, the third-largest apparel import source, dropped significantly by 12.79%. Conversely, imports from India and Vietnam increased by 5.75% and 3.73% respectively in value terms. Volume-wise, all top countries experienced negative growth in EU's imports.

CREDITS: BGMEA Press Release.

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08 June  2023, Mumbai

Strong Year-Over-Year Growth; According to official statistics, Bangladesh's Ready-Made Garments (RMG) export for the period of July-May in the fiscal year 2022-23 reached an impressive US$42.63 billion, marking a 10.67% year-over-year growth from US$38.52 billion in the same period of FY 2021-22.

Knitwear and Woven Garments Lead the Way

A breakdown by category reveals that knitwear exports amounted to US$23.27 billion, showing a 10.92% growth, while woven garments accounted for US$19.35 billion, indicating a 10.36% increase.

In May 2023 alone, the country's RMG export recorded a significant 28.33% year-over-year growth, reaching US$4.05 billion compared to US$3.15 billion in May 2022.

Impressive Growth Rates

This growth is particularly noteworthy considering the challenges faced by the industry, such as factory closures during the Eid-ul-Fitre period and reduced orders due to a slowdown in retail sales and supply chain disruptions.

Exploring Non-Traditional Markets Crucial

Amidst these hurdles, exploring non-traditional markets becomes crucial for sustained progress as economic turbulence persists in major markets.

CREDITS: BGMEA Press Release.

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19 May 2023, Mumbai  

In 2023, Bangladesh's ready-made garment (RMG) exports from January to April amounted to US$15.58 billion. The European Union (EU 27) was the largest market, accounting for US$7.70 billion, but it experienced a slight decline of 1.55% compared to the same period in 2022.

Several EU member states, including Germany, Denmark, Poland, Latvia, Lithuania, Malta, Bulgaria, and Slovenia, saw negative year-on-year growth. Notably, exports to Germany decreased by 21.08%, while exports to France and Spain increased by 9.45% and 15.45%, respectively.

During this period, exports to the United States (U.S.A.) significantly dropped by 17.86% to US$2.67 billion, and exports to Canada decreased by 0.21% to US$455.48 million. However, exports to the United Kingdom (UK) showed positive growth, reaching US$1.79 billion with a year-on-year increase of 9.56%.

On a positive note, RMG exports to non-traditional markets expanded steadily, rising by 28.95% to US$2.96 billion, representing a 19.01% share of clothing exports.

Japan emerged as the top destination with exports amounting to US$566.99 million, and exports to other non-traditional markets like Australia, India, South Korea, and Turkey also grew. However, exports to Russia, the United Arab Emirates (UAE), and Chile declined.

As Asian markets present promising opportunities, exports to emerging markets such as Japan, India, and South Korea are on the rise. The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) continues its efforts to explore non-traditional markets.

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16 June 2023, Mumbai

ALDO, the premier global fashion brand of Apparel Group, has once again joined forces with Project Maji in their shared mission to provide sustainable access to clean drinking water for marginalized communities in Ghana.

Bring Clean Water and Empowerment

By adding a small contribution of AED 1 to customers' bills, ALDO encourages support for this transformative cause.

The funds directly contribute to the establishment of solar-powered water kiosks, which not only provide reliable access to clean water but also foster women's entrepreneurship by transforming these points into community hubs.

Commitment to corporate social responsibility

Since 2017, ALDO has funded three solar-powered water kiosks, benefitting over 4,900 people with 7 million liters of clean water daily. The selection process for a fourth kiosk is underway, demonstrating ALDO and Project Maji's unwavering commitment to improving living conditions. The initiative aims to provide clean drinking water to 1 million people by 2025.

Strengthens through collaboration

Apparel Group's CEO, Mr. Neeraj Teckchandani, highlights the significance of this sustainability initiative and its alignment with corporate values. Through events like in-store discussions, ALDO engages interested individuals, sharing insights about the project and Project Maji's proposed solution.

Create community hubs

This initiative not only ensures a clean water supply but also empowers women economically, as they no longer need to spend long hours collecting water. ALDO's dedication to corporate social responsibility has enhanced its reputation and garnered recognition, including the prestigious Images Retail Middle East Award in 2022 for "The Most Admired Brand Campaign of the Year."

Apparel Group, together with ALDO and partners like Project Maji, reaffirms its commitment to sustainable practices, aiming for a better and more inclusive future.

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06 June  2023, Mumbai

Dates: 22-23-24 June 2023

Organiser:Worldex India

Venue: Halls 2 & 4, ICCB, Dhaka (Bangladesh)

Number of Exhibitors: 125+

The Cotton Textiles Export Promotion Council (TEXPROCIL) is organizing the participation of 24 member exporters.

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19 May 2023, Mumbai  

4ocean and U.S. Polo Assn. are renewing their commitment to combat the ocean plastic crisis through a global sustainability partnership.

Their shared objective is to remove 150,000 pounds of trash from the world's oceans, building on their previous success of eliminating 60,000 pounds of plastic.

The partnership, which began in 2021 and will continue until 2024, highlights U.S. Polo Assn.'s proactive stance towards sustainability and aligns with their broader initiative, USPA Life, aimed at minimizing their environmental impact.

The collaboration extends beyond direct clean-up efforts, with 4ocean's involvement as the Official Sustainability Partner at prominent events like the U.S. Open Polo Championship Final, raising awareness among millions of spectators and sports enthusiasts.

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15 June 2023, Mumbai

CleverTap, the all-in-one engagement platform, has fortified its compliance in the EU region through the establishment of data centers hosted on Amazon Web Services (AWS), a subsidiary of Amazon.com, Inc.

This strategic move aims to enhance the safeguarding of personal data belonging to EU residents and citizens.

Pravin Laghaate, Vice President of Europe at CleverTap, emphasized the company's dedication to safety and customer satisfaction. The local deployment of their platform within the EU will not only improve the CleverTap experience for European clients but also ensure data safety and compliance.

CleverTap is a comprehensive customer engagement platform that empowers brands to personalize and optimize consumer touchpoints. The platform, powered by TesseractDB(TM), offers audience analytics, deep segmentation, multi-channel engagement, product recommendations, and automation.

With a trusted clientele including notable brands like Electronic Arts, TED, and Tesco, CleverTap is backed by prominent investors and headquartered in Mountain View, California.

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02 June  2023, Mumbai

The Bangladesh ready-made garment industry has overcome numerous challenges and remained resilient over the years. BGMEA, with its proactive approach, has played a key role in facilitating trade and business in the country.

What all you need to know

The support from the government has been instrumental in bringing the sector to its current stage.

With a vision for 2030, the industry aims to achieve a strategic target of USD 100 billion in exports sustainably. To realize this vision, a reevaluation of business processes and a shift beyond traditional norms are essential.

BGMEA: Facilitating Trade and Business

FOC Advantage; Against this backdrop, there was a pressing need for an extended threshold for importing raw materials under a free-of-cost (FOC) basis. BGMEA presented a compelling argument to government agencies, including the NBR, advocating for this change.

As a result, the NBR issued a circular on January 4, 2023 (Circular Number: 08.01.0000.56.05.003.18/11), allowing factories to import raw materials for 6 months instead of the previous 4 months on a FOC basis.

This amendment aligns with the Import Policy for 2021-24, granting 100% export-oriented factories the opportunity to import raw materials on a FOC basis for 6 months.

Commercial Cost Reduction and Supply Chain Flexibility

Previously, the practices of the National Board of Revenue did not align with the Import Policy, causing exporters to miss out on this extended facility. Now, with the issuance of the S.R.O. by the NBR, the implementation of the Import Policy 2021-24 will proceed smoothly.

Given the heavy reliance of the ready-made garment industry on imported raw materials, this policy change will significantly increase trade capacity. Manufacturers will be able to import a greater quantity of raw materials, relieving the pressure on credit limits from banks.

This will lead to reduced commercial costs and enhanced flexibility in operations and supply chain management.

Additionally, some buyers prefer the FOC system as it allows them to procure raw materials at favorable prices from their own suppliers, which was hindered by previous policy settings.

The extended limit of import under FOC will provide manufacturers with the flexibility to import more raw materials, enabling them to pursue their desired growth trajectory.

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15 May 2023, Mumbai 

Garment Technolgy Bangladesh (GTB) 2023

Dates: June 8-10th 2023

Venue: GTB at GEC Convention Hall, GEC, More, Chittagong, Bangladesh 

Theme: A focused technology trade show for the RMG sector.

A prime marketing opportunity.

GTB - Chattogram Edition offers an exceptional marketing opportunity to showcase your products and services in the thriving hub of the country's second-largest Ready-Made Garments (RMG) production center.

With three successful editions already completed, GTB - Chattogram Edition has established itself as an ideal platform for technology and service providers to present their offerings to key decision-makers in the Chattogram market.

In recent months, the production capacity in existing factories in Chattogram has been expanding significantly. Moreover, due to its close proximity to the port, Chattogram has become the preferred location for new factories established by overseas companies.

The region is experiencing rapid growth, particularly in the Special Economic Zones created in and around Chattogram, further enhancing the marketing prospects for participants.

The exhibitor product profile at GTB - Chattogram Edition includes a diverse range of offerings such as Automation Systems, Machinery & Accessories, Boilers, CAD/CAM/CIM Systems, Chemicals & Dyes, Computer Software, Creasing, Cutting & Laying Machinery, Embroidery & Quilting Machinery, and Fastening Machines.

These products cater to the evolving needs of the industry and represent cutting-edge solutions for businesses operating in the RMG sector.

By participating in GTB - Chattogram Edition, you will gain access to a targeted audience consisting of influential decision-makers actively seeking innovative products and services.

This event serves as a springboard for establishing valuable connections, generating leads, and expanding your business opportunities in the Chattogram market.

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