Bangladesh becomes top denim exporter to EU | Trade News Bangladesh » Page 2

Bangladesh becomes top denim exporter to EU

Share: 
      Newsletter

READ MORE ON Bangladesh Apparel IndustryDenimTrade News Bangladesh

Denim

Image Courtesy: kuzgunlar.com

Bangladesh gets past China to become the largest denim supplier to the European Union during the January-June period of 2016. The country is considering it as a remarkable development that would give confidence to Bangladesh’ garment sector as it looks to touch US $ 50 billion in apparel exports by 2021.

During the review period, Bangladesh exported € 567.97 million worth of denim products to the EU – the world’s largest economy– enough to secure a 21.18 per cent market share which is the highest share among all countries exporting their garments to the EU. Currently, Bangladesh has 30 denim mills for which investment to the tune of US $1 billion was made last year and the collective production capacity of the mills is 435 million yards a year.

Also ReadDenimsandjeans.com Bangladesh Back with 7th edition

MS Hasan, Director Of Operations of Amber Denim, who invested heavily to acquire a modern denim laboratory for testing and certification, commented, “Bangladesh could win in the European denim segment not only for the competitive prices, but also for the quality of its products, shorter lead time and better commitment.”

It may be noted here that EU and US are the two major importers of Bangladesh’ denim products. Bangladesh’s global denim export is forecasted to reach US $7 billion by the end of 2021. The country supplies denim products to major global retailers including Levi’s, Diesel, G-Star RAW, H&M, Uniqlo, Tesco, Wrangler, Hugo Boss, Walmart, and Gap.

 

Have some news? Let us know on news@apparelresources.com

Recommended by Apparel Resources

Vietnam gains as US’ apparel imports increase in January

According to data released by OTEXA, the International Trade Administration’s Office of Textiles and Apparel, US’ apparel imports increased in the month of...

Bangladesh’s RMG exports drop in February

According to Export Promotion Bureau (EPB), readymade garments (RGM) exports from Bangladesh in the month of February this year fell from a year...

Indonesia’s textile & apparel exports to decrease 5%

Indonesian textile and apparel exports have been forecasted to decrease by 5 per cent, as compared with the estimated 2016 export value. Production...

India’s AEPC achieves 82.8% exports target till December ’16

Ministry of Textiles, India had set a target of US $ 20 billion for readymade garment (RMG) exports for the financial year 2016-17,...

Bangladesh notes 1.96% decline in apparel exports to US

The volatile US economy and the recent presidential elections have reportedly led to decline in Bangladesh's apparel exports to the country. During the...

India’s December ’16 apparel exports to US down 4.8%

India’s apparel exports to the US fell by 4.8 per cent year-on-year in December 2016. Decline is claimed to be an outcome of...

Cambodia’s exports to US down 7%

The uncertainties in the US presidential race, rising exports from Vietnam and emergence of new market Myanmar resulted in 7 per cent decline...

Asia and South America drive growth in global fabric market

International Textile Manufacturers Federation’s (ITMF) State of Trade Report shows that global fabric production has increased by more than 3 per cent in...

Pakistan records 1.65% decline in textile exports

Textile industry, the largest foreign exchange earning sector of Pakistan, has witnessed a decline of 1.65 per cent to US $ 6.156 billion...

US apparel imports continue to fall

In the first ten months of 2016, apparel imports by the US consistently showed a downward trend. While the volumes were down by...