Bangladesh’s denim export bonanza has been increasing due to several favorable conditions. The surge in global demand amid the US-China trade spat is one reason, Covid-19 disruptions in China the other, and Bangladesh’s proficiency in producing value-added items.
But it’s no fluke that the country made a mark in product that a short time back was not its specialty. In the last two years Bangladesh has emerged as a leading supplier of denim products to both the US and EU markets. Denim was considered to be a specialty of Pakistan in Asia and Turkey in Europe. The denim remained mostly untapped opportunity in Bangladesh. Post-covid-19 the RMG sector added this item to cover up the loss of apparel market due to global recession. And it has been an instant success. Hats off to the perseverance, hard work and innovative Bangladeshi’s manufacturers for this success.
Bangladesh exported denim garments worth US$ 839.13 million in January-October period to the US market clocking a growth 36.23 per cent to in 2022. This translates into a significant addition of $224 million in ten months. The exports were $ 615.95 million in the corresponding period in 2021. Denim products to the European Union fetched $ 1.0 billion from January to August, a growth of 40.20.
Currently Bangladesh tops the short-list of leading denim exporters around the world. It has relegated Mexico (2nd), Pakistan (3rd), Vietnam (4th) and China (5th). The BGMEA president is happy over the fact that Bangladesh is doing fine in the US market. A significant development cannot be kept aside: factories in China remained closed under the ‘Zero Covid’ policy. The impressive performances of some other countries cannot also be undermined. In international relations, no power is aligned to others for an indefinite period. In trade relations, too, there are no permanent friends or foes among nations. What counts is the power of survival, and excellence. The denim players should take these observations seriously.
