Bangladesh’s dominance remains in the US denim market as the top denim supplier as the country exported denim goods worth $445.5 million to the US, fetching a continuous year-on-year (YoY) growth of 57.06%, according to recent data from the Commerce Department’s Office of Textiles and Apparel (Otexa).
In the same period of the last year (H1 of 2021), Bangladesh exported denim apparel worth $283.64 million in the largest single export destination, Otexa data stated.
However, the US imported denim apparel worth $2.05 billion from January to June of 2022 from the global suppliers, noting a significant increase of 42.62% on a YoY basis, from $1.43 billion in the same period of the last year, Otexa data showed.
In 2021, Bangladesh became the top denim exporter to the US for the second consecutive year.
Currently, Bangladesh holds a 22.36% market share of the US denim market as the market topper.
Among others, securing the second position, Mexico shipped $362.02 million worth of denim garments to the US, registering a growth of 26.46% y-o-y from $286.26 million in the H1 of 2021 with a market share of 17.02%.
With an 11.21% market share, Pakistan exported denim apparel worth $242.76 million registering a 60.8% yearly growth in the US market during the first six months of 2022, from $150.97 million in the same period of the last year.
Being fourth, Vietnam exported $217.98 million worth of denim with a 44.57% growth from $150.77 million in the same period of the last year with a market share of 10.94%.
China shipped $188.45 million worth of denim garments – up by 26.42% – from last year’s $148.9 million, with a market share of 9.95%, Otexa data said.
Manufacturers said Bangladesh is still on the right track amid the global crises induced by war and inflation in the West and disruptions in the supply chain.
However, Bangladeshi denim is the biggest brand in the US market as US buyers consider it an elite product of high quality, and they hope Bangladesh will remain the top denim exporter to that market for a third consecutive year by the end of 2022.
Comment here