14 August 2023, Mumbai

• EU Market
  • Export to the EU increased by 5.88% to US$ 13.97 billion.
  • Six countries showed significant negative year-on-year growth: Germany, Lithuania, Malta, Poland, Slovakia, and Slovenia.
  • Export to Denmark, France, Italy, and Spain increased by 11.90%, 16.05%, 29.64%, and 21.82% respectively.
• USA Market
  
  • Export to the USA declined by 9.14% to US$ 4.97 billion.
• UK Market
  • Export to the UK increased by 14.11% to US$ 3.10 billion.
• Canada Market
  • Export to Canada increased by 7.74% to US$ 900.57 million.
• Non-Traditional Markets
  • Export to non-traditional markets increased by 29.66% to US$ 5 billion.
  • Japan is the top destination with export of US$ 984.19 million, up by 48.69%.
  • Other non-traditional markets with positive growth include Australia, India, South Korea, China, Brazil, and Turkey.
  • UAE and Chile saw a decline in export.

Overall, the RMG export performance for Jan-July 2023 is positive, with the exception of the USA market. The non-traditional markets are showing encouraging growth, especially Japan, India, and South Korea.

CREDITS: BGMEA Press Release.

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04 August 2023, Mumbai

Bangladesh retained its position as the world's second-largest apparel exporter in 2022, with its share in the global apparel market climbing to 7.87% from 6.37% in 2021.

Consistency

This is the first time that Bangladesh's share in the global apparel market has crossed the 7% mark.

The growth of Bangladesh's apparel export was driven by a number of factors, including the country's competitive wages, strong infrastructure, and political stability.

The government of Bangladesh also played a key role in supporting the growth of the apparel industry, providing tax breaks and other incentives to garment manufacturers.

Navigating

In 2023, the growth of Bangladesh's apparel export is expected to slow down due to a number of factors, including the global economic slowdown and the rising cost of raw materials. However, Bangladesh is still well-positioned to remain a major player in the global apparel market.

The country has a large and skilled workforce, and it is making investments in new technologies and sustainable manufacturing practices.

Share in the global apparel market climbs

• The growth of Bangladesh's apparel export was particularly strong in the United States and European Union markets.
• Bangladesh surpassed China's share of the European Union apparel market in volume in 2022.
• The government of Bangladesh has set a target of reaching 12% of the global apparel market share by 2030.
• Bangladesh is making investments in new technologies and sustainable manufacturing practices to remain competitive in the global apparel market.

CREDITS: BGMEA Press Release.

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29 July 2023, Mumbai

During the January-June 2023 period, Bangladesh's Ready-Made Garments (RMG) exports to the world achieved a notable growth of 5.65%, totaling US$ 23.99 billion, compared to US$ 22.71 billion in the corresponding period of 2022.

European Union Sees Surge

The European Union witnessed a commendable growth of 4.22%, with total export turnover reaching US$ 12.02 billion, up from US$ 11.53 billion in the same period the previous year.

However, some EU member countries, including Germany, Latvia, Lithuania, Malta, Poland, and Slovenia, experienced declines in imports from Bangladesh.

Exports Registered Growth

On a positive note, exports to France and Italy soared, increasing by 15.2% and 28.6%, respectively, with impressive values of US$ 1.52 billion and US$ 1.14 billion. Spain also displayed a remarkable 19.36% increase, reaching US$ 1.87 billion.

Expand footprint

In addition to traditional markets, Bangladesh's exports to new markets surged by 30.63%, reaching US$ 4.33 billion in Jan-Jun 2023 from US$ 3.31 billion in the same period last year.

Mixed bag

Remarkably, exports to Japan, Australia, India, Turkey, and Brazil showed impressive positive growth of 48.48%, 55%, 32.77%, 33.12%, and 83.28%, respectively.

Conversely, Bangladesh's exports to the USA dipped by 11.36% to US$ 4.23 billion. Nevertheless, exports to the UK and Canada demonstrated growth at 11.67% and 6.65%, amounting to US$ 2.63 billion and US$ 771.67 million, respectively.

However, the United Arab Emirates and Chile witnessed declines of 11.81% and 17.06% in imports from Bangladesh.

CREDITS: BGMEA Press Release.

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14 August 2023, Mumbai

Bangladesh started it's new fiscal year 2023-24 on July 1, 2023. The export data for the first month of the new fiscal year is now available.

RMG exports grew by 17.43% in July 2023

During July FY 2023-24, Bangladesh's total ready-made garment (RMG) export stood at US$ 3.95 billion, up from US$ 3.37 billion dollars in the same period of FY2022-23. This represents a year-over-year growth of 17.43%.

Woven garment exports grew by 11.54%

RMG export earnings from woven garments grew by 11.54% and reached US$ 1.68 billion from US$ 1.51 billion in July FY 2022-23.

Knitwear exports grew by 22.24%

At the same time, Bangladesh's knitwear export grew by 22.24% year-over-year and reached US$ 2.27 billion during the mentioned period.

The global economic outlook is mixed

The growth in Bangladesh's RMG exports is certainly impressive. However, the global economic outlook is mixed. Inflation has started to ease off in Bangladesh's major export markets, but the economic indicators are still not very strong.

In addition, the import of apparel by the United States and the European Union is showing a major downtrend.

Cautious optimism for the rest of 2023

Given the mixed global economic outlook, it is difficult to forecast the market for RMG exports for the rest of 2023. It is possible that apparel and overall global trade may see some dip compared to last year.

CREDITS: BGMEA Press Release.

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02 August 2023, Mumbai

Downtrend

The European Union's (EU) apparel imports for January to May 2023 decreased 8.84% in value, reaching US$36.31 billion compared to US$39.83 billion in the same period last year.

Quantity-wise, the EU imported US$1.46 billion worth of clothing, down 16.54% from the previous year's US$1.75 billion.

Stays ahead

Bangladesh remains the EU's second-largest apparel import source, holding a 23.32% share of total imports from 26 EU member countries.

China retains its position as the top supplier with a 23.67% share. Interestingly, Bangladesh has surpassed China in quantity, maintaining its leading position.

Multiple Datapoints

Both Bangladesh and China experienced declines in their apparel exports to the EU during the mentioned months of 2023. Bangladesh's import value decreased by 11.59%, while China's declined by 15.25%.

The overall trend in EU apparel imports shows negative growth for all top ten sourcing countries, indicating a challenging retail business and economic scenario.

Despite the downturn, Bangladesh is progressing in diversifying its products and moving towards sophisticated items, as reflected in the rise in unit prices.

CREDITS: BGMEA Press Release.

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11 August 2023, Mumbai

Get prepared for the upcoming academic year with Apparel Group's comprehensive selection of must-have items for a successful semester. From trendy clothing and accessories to cozy footwear and delectable nourishment, we've got you covered. Ensure you're equipped for your university journey with these essential back-to-school items:

Backpack:

An indispensable companion for carrying your books, notes, and personal items, a high-quality backpack is a necessity. Opt for the durability and style of Herschel backpacks, such as the Herschel Retreat Rucksack.

Footwear:

Stay comfortable and keep up with your demanding schedule by selecting Toms sneakers. These shoes offer a blend of fashion and comfort, like the Toms Natural Undyed Canvas Women Valencia Espadrille.

Apparel:

Present yourself confidently on campus by assembling a collection of fashionable outfits. Discover a diverse array of stylish attire perfect for university life at New Yorker.

Accessories:

Elevate your look with chic accessories. Explore F5 Global's assortment of athleisure wear, which seamlessly combines comfort and style for a polished appearance.

Nourishment:

Maintain your mental and physical well-being with nourishing meals. Sushi Library's assortment of poke bowls and refreshing summer quenchers provide convenient, health-conscious options for a quick bite.

With the back-to-university essentials from Apparel Group.

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01 August 2023, Mumbai

Apparel Imports to the U.S. Drop Significantly

The U.S. Office of Textiles and Apparel (OTEXA) releases data for January to May 2023, showing a sharp 22.92% decline in overall apparel imports compared to the previous year.

Value and Volume Decline in Apparel Imports

Apparel imports fell from $40.89 billion to $31.51 billion (a 22.92% drop) and from 13.79 billion SMEs to 9.58 billion SMEs (a 30.48% slowdown in volume-wise data).

Major Import Sources Witness Declines

China, Vietnam, Bangladesh, Indonesia, and India experienced considerable declines in both value and volume during the period.

Impact on China and Vietnam's Imports

China's imports fell by 30.44% in dollar terms and 31.44% in quantity, while Vietnam's imports dropped by 28.07% in value and 33.51% in quantity.

Decline in Imports from Bangladesh

Imports from Bangladesh decreased by 19.16% in value and 30.91% in quantity.

Rising Unit Prices Affect Apparel Imports

Inflation-driven unit price surges impact all top-sourcing countries, with the aggregate unit price of imports increasing by 10.88%.

Bangladesh Records Highest Unit Price Rise

Bangladesh sees the highest unit price rise of 17.01%, attributed to input cost hikes and inflation.

Challenges in the Global Apparel Supply Chain

The report highlights significant challenges in the global apparel supply chain, with rising costs impacting the industry's performance in the United States.

CREDITS: BGMEA Press Release.

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19 July 2023, Mumbai

Who's who; The 12th edition of the India Tex Trends Fair commenced today in Tokyo, Japan, graced by the presence of esteemed industry figures such as Mr. Tsunenori Suzuki, Chairman of Japan Apparel Fashion Industry Council (JAFIC) and Chairman of Onward Holdings Co., Ltd., as well as Mr. Kenji Ueyama, Vice Chairman of JAFIC and Chairman and Representative Director of World Co.

The inauguration was also attended by Naren Goenka, Chairman of AEPC (Apparel Export Promotion Council), Sudhir Sekhri, Vice Chairman of AEPC, Ashok Rajani, Chairman of F&E, and representatives from renowned brands and retail chains.

Strong showing

During his speech at the inauguration, Naren Goenka expressed his satisfaction with the successful organization of the India Tex Trends Fair over the past 11 years. He highlighted the event's growth, noting that the number of exhibitors has increased from previous editions, with more than 180 exhibitors participating this year.

Goenka praised the enthusiasm and energy exhibited in the show, emphasizing the positive trend of apparel imports into Japan despite the challenges posed by the COVID-19 pandemic. He also shared the significant growth in Japan's total imports from the world, which rose from 28.49 USD billion in 2018 to 46.72 USD billion.

Unique position

Furthermore, Goenka emphasized Japan's position as the world's fourth-largest garment importer, following the USA, Germany, and France. Among the NEA (North-East Asia) countries, Japan holds approximately 50% of the market share, making it the largest importer of garments in the region.

The Japanese apparel market is projected to experience a Compound Annual Growth Rate (CAGR) of 2.55% from 2023 to 2027.

Goenka highlighted the immense potential for Japanese trading companies to source from the robust Indian garment industry, which offers unique products and opportunities for trade diversification, particularly with the decline of China's dominance in Japanese apparel imports.

Catch up play

Currently, India's share in total Japanese garment imports amounts to just 1%, presenting ample room for growth.

Goenka further noted that India enjoys a strong business opportunity in Japan, especially considering the decline witnessed in China's garment supply to the country over the past five years.

Strong pitch; He emphasized India's advantage in terms of duty-free access for Ready-Made Garments (RMG) following the Indo-Japan Comprehensive Economic Partnership Agreement (CEPA), compared to China and Turkey, which face approximately 9% duties.

Inherent advantages

Echoing Goenka's sentiments, Sudhir Sekhri, Vice Chairman of AEPC, highlighted India's advantageous position with abundant raw materials such as cotton, jute, silk, and wool, along with the second-largest spinning and weaving capacity globally.

This resource availability enables the industry to achieve a 95% domestic value addition, offering a complete value chain solution from farm to fashion. 

Sekhri emphasized India's competitive edge in terms of shortened lead times to reach buyers, aided by its skilled workforce and technological advancements that result in high-quality textiles meeting global standards.

Chairman of F&E, Ashok Rajani, expressed the aim of AEPC to provide a global platform for showcasing India's best apparel designs and styles, aligned with the latest fashion trends.

The fair exhibits a wide range of traditional cotton and unique products, including ladies' and men's apparel, outerwear, jackets, pants, skirts, stoles, nightwear, shorts, leggings, fashion accessories, and organic and sustainable products.

Additionally, it showcases home fashion products such as fabrics, bed and pillow covers, cushions, curtains, rugs, belts, tableware, home furnishings, and interior goods. Rajani expressed confidence that Japanese buyers would find a diverse selection of quality products to fulfill their sourcing requirements.

Intellectual platform

Alongside the India Tex Trends Fair, seminars and B2B business delegation meetings were held to facilitate stronger understanding and collaborations between industry stakeholders from 19th to 21st July 2023.

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07 August 2023, Mumbai

The Office of Textiles and Apparel (OTEXA) of the U.S. Government has released trade statistics for the textiles and apparel sectors.

Multiple data points

The data shows that Bangladesh's apparel exports to the USA grew by 36% in 2022, reaching US$9.74 billion. This makes Bangladesh the third largest apparel supplier to the USA, behind China and Vietnam.

China remains the top apparel supplier to the USA, with a market share of 21.75%. However, its apparel exports to the USA grew by only 10.83% in 2022. Vietnam is in second place, with a market share of 18.26%. Its apparel exports to the USA grew by 28.46% in 2022.

Competitiveness

Bangladesh's apparel exports to the USA have been growing steadily in recent years. This is due to several factors, including the country's competitive labor costs, its growing infrastructure, and its compliance with international labor standards.

Bangladesh is looking to further increase its apparel exports to the USA. The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) is working with the American Apparel & Footwear Association (AAFA) to make trade between the two countries easier.

The BGMEA is also urging the US Government to consider duty-free market access to the USA for garments made of US cotton.

Conclusion:

Bangladesh's apparel exports to the USA are growing rapidly. The country is well-positioned to further increase its market share in the USA in the coming years.

CREDITS: BGMEA Press Release.

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01 August 2023, Mumbai

A Remarkable Achievement

AKM Salim Osman has achieved an extraordinary feat, as recently announced in a press release, by being re-elected as the President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) for the term of 2023-2025.

This remarkable accomplishment marks his seventh consecutive term in office.

Salim Osman: A Distinguished Leader with Multiple Roles

Salim Osman, well-known for his role as the Managing Director of Wisdom Attires Ltd, holds an additional significant position as a Jatiya Party lawmaker, representing the Narayanganj-5 constituency. Notably, he is also the brother of the ruling Awami League lawmaker, Shamim Osman.

A Victory Without Opposition

In an unopposed victory, the BKMEA election board declared the results on Tuesday, revealing that Salim Osman and eight other office bearers were elected without any competition. Interestingly, no other candidates had submitted nomination papers for the election, further solidifying Salim Osman's position as the President.

New Faces in Leadership: Executive President and Senior Vice President

The press release also introduced the new additions to the leadership team. Mohammad Hatem, the Managing Director of MB Knit Fashions Ltd, was elected as the Executive President of BKMEA, while Md Monsoor Ahmed, the Managing Director of Motaher Color Ltd, will take on the role of Senior Vice President.

Eminent Vice Presidents Join the Team

The list of elected vice presidents comprises distinguished individuals such as Fazle Ehsan Shamim, Amal Poddar, Gauhar Siraj Jamil, Akhter Hossain, and Ashikur Rahman.

Each of them is expected to play vital roles in the affairs of the association. Additionally, Morshed Sarwar (Sohel) has been elected as the Vice President (Finance), bringing his valuable expertise to the team.

Continuing the Winning Streak

In a previous unopposed election, on July 20, the election board announced the successful election of all 35 candidates for directorship posts under Salim Osman's panel. The absence of opponents resulted in a resounding win, adhering to the provisions of the Trade Organisation Ordinance.

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18 July  2023, Mumbai

Innovation-led model; Innovative technology offers a breakthrough solution for the textile industry, enabling the creation of wash-down aesthetics and vintage looks without the resource-intensive processes of denim dyeing and bleaching.

Revolutionary Approach

The approach, particularly suitable for TENCELTM Lyocell fiber or TENCELTM Lyocell fiber with REFIBRATM technology, elevates the versatility of fabrics and expands design possibilities in ready-to-wear and knit apparel.

Compatible with existing fabric machinery, this groundbreaking method enhances energy efficiency in production, leading to substantial cost-savings and sustainable practices across the supply chain.

Cuts Environmental Impact

By streamlining the dyeing process into a single step, water, energy, and chemical consumption can be reduced by up to 50%, 40%, and 90%, respectively.

"As the demand for environmentally-friendly products rises, designers and manufacturers are increasingly seeking ways to minimize their ecological footprint," states Rex Mok, Vice President of Fiber Technical Marketing and Development at Lenzing.

Unleashing Design Possibilities

With this innovative approach, limitless design options are unlocked for knit apparel and denim-style garments while significantly reducing water usage and promoting sustainability.

Cost efficiency; The new technique is compatible with regular, organic, and natural dyes, allowing yarn makers and fabric mills to maintain continuous production without dye residue issues.

By minimizing machine downtime during color changes, the approach enhances efficiency, reduces costs, and supports sustainable production practices throughout the value chain.

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