August has been a great month for the Bangladeshi RMG industry, as far as the US market is concerned. The total RMG export of the country grew by 15.70 per cent in August ’20 on Y-o-Y basis and this growth is supported by product categories like denim apparels which saw 36.45 per cent yearly surge in the US market.
The total denim apparel import of USA valued US $ 301.38 million in August ’20, marking 13.16 per cent downfall on Y-o-Y basis and 2.72 per cent fall on M-o-M basis. Bangladesh’s contribution to this value was 26.30 per cent.
Bangladesh exported US $ 79.28 million worth of denim apparels to USA in August ’20 as compared US $ 58.10 million in August ’19. If July ’20 figures are taken into account, Bangladesh’s growth was 23.63 per cent in August ’20.
What’s even more interesting is the fact that Bangladesh is increasing the gap between its denim apparel shipment value (being on top in tally) to USA and the value clocked by the second top exporter – Mexico.
The gap was just US $ 22 million in the export values of Bangladesh and Mexico in July ’20, which increased to US $ 31.92 million in August ’20, indicating that US buyers are rapidly moving to the South Asian country particularly for denim products during post-COVID times.
The performance of China and Vietnam remained dismal in their denim apparel exports to USA in August ’20 as both tumbled on M-o-M basis over July ’20 by 26.29 per cent and 23.78 per cent, respectively.
Vietnam was still up by 9.15 per cent on Y-o-Y basis to US $ 37.47 million worth of denim apparel shipment to USA in August’ 20 but China fell on Y-o-Y as well by 35.16 per cent. The significant fall of the competitors of Bangladesh in denim category signals a block-free road for the country’s export at least for some months now.
- Articles2021.10.05The Benefits of Social Media Marketing For Small Businesses
- In-Depth Analysis2021.10.05Industrial Visit Report on Tisser India Pvt. Ltd.
- Articles2021.10.05stretchable fabrics tailored with carbon nanotube electrodes monitor the heart
- In-Depth Analysis2021.10.05Cotton Yarn/Fabric Market Report – 5th October, 2021