Cotton trousers made up for 27 per cent of Bangladesh’s total apparel exports to the US, the country’s single biggest country-wise export destination, in 2018.
According to latest data of Otexa, Bangladeshi-made cotton trousers fetched US $1.13 billion during January-September 2018, what was an impressive 9.31 per cent gain on a year-to-year basis in comparison to the same time period last year.
Data shows, during the said period Bangladesh’s apparel exports to the US amounted to US $4.16 billion, up 5.84 per cent from last year. The major garments export items were cotton trousers, cotton dress, knit blouse, slacks, cotton underwear and sweater.
Further analysis shows, slacks marked a significant rise, fetching over US $59 million. This sum was an impressive 9.32 per cent gain from the US $54 million during the said period in 2017.
On the other hand, export of woven shirts declined during January-September 2018. It fetched US $41 million during this time, down 1.14 per cent from the previous year.
Cotton-made underwear was perhaps the biggest falling point, losing 8.74 per cent during the said period and fetching US $17 million. Last year, the sum was US $19 million.
Bangladesh’s apparel export to the US is currently gaining for what industry stakeholders believe to be the pursuit of China plus sourcing strategy. Also, the recent trade war between the two giant economies is proving beneficial for Bangladesh.
Apparel Resources spoke to Mohammad Hatem, vice president of Exporters Association of Bangladesh, and Mohammed Nasir, vice president (Finance) for Bangladesh Garment Manufacturers and Exporters Association (BGMEA) in this regard.
Both of them believe that the apparel export to the US is rising because of the two said factors. They say, the void that is being created because of this is too large to be filled by emerging suppliers like Bangladesh and Vietnam.
But, they unilaterally said that this is an opportunity for Bangladesh.