01 August 2023, Mumbai

Apparel Imports to the U.S. Drop Significantly

The U.S. Office of Textiles and Apparel (OTEXA) releases data for January to May 2023, showing a sharp 22.92% decline in overall apparel imports compared to the previous year.

Value and Volume Decline in Apparel Imports

Apparel imports fell from $40.89 billion to $31.51 billion (a 22.92% drop) and from 13.79 billion SMEs to 9.58 billion SMEs (a 30.48% slowdown in volume-wise data).

Major Import Sources Witness Declines

China, Vietnam, Bangladesh, Indonesia, and India experienced considerable declines in both value and volume during the period.

Impact on China and Vietnam's Imports

China's imports fell by 30.44% in dollar terms and 31.44% in quantity, while Vietnam's imports dropped by 28.07% in value and 33.51% in quantity.

Decline in Imports from Bangladesh

Imports from Bangladesh decreased by 19.16% in value and 30.91% in quantity.

Rising Unit Prices Affect Apparel Imports

Inflation-driven unit price surges impact all top-sourcing countries, with the aggregate unit price of imports increasing by 10.88%.

Bangladesh Records Highest Unit Price Rise

Bangladesh sees the highest unit price rise of 17.01%, attributed to input cost hikes and inflation.

Challenges in the Global Apparel Supply Chain

The report highlights significant challenges in the global apparel supply chain, with rising costs impacting the industry's performance in the United States.

CREDITS: BGMEA Press Release.

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19 July 2023, Mumbai

Who's who; The 12th edition of the India Tex Trends Fair commenced today in Tokyo, Japan, graced by the presence of esteemed industry figures such as Mr. Tsunenori Suzuki, Chairman of Japan Apparel Fashion Industry Council (JAFIC) and Chairman of Onward Holdings Co., Ltd., as well as Mr. Kenji Ueyama, Vice Chairman of JAFIC and Chairman and Representative Director of World Co.

The inauguration was also attended by Naren Goenka, Chairman of AEPC (Apparel Export Promotion Council), Sudhir Sekhri, Vice Chairman of AEPC, Ashok Rajani, Chairman of F&E, and representatives from renowned brands and retail chains.

Strong showing

During his speech at the inauguration, Naren Goenka expressed his satisfaction with the successful organization of the India Tex Trends Fair over the past 11 years. He highlighted the event's growth, noting that the number of exhibitors has increased from previous editions, with more than 180 exhibitors participating this year.

Goenka praised the enthusiasm and energy exhibited in the show, emphasizing the positive trend of apparel imports into Japan despite the challenges posed by the COVID-19 pandemic. He also shared the significant growth in Japan's total imports from the world, which rose from 28.49 USD billion in 2018 to 46.72 USD billion.

Unique position

Furthermore, Goenka emphasized Japan's position as the world's fourth-largest garment importer, following the USA, Germany, and France. Among the NEA (North-East Asia) countries, Japan holds approximately 50% of the market share, making it the largest importer of garments in the region.

The Japanese apparel market is projected to experience a Compound Annual Growth Rate (CAGR) of 2.55% from 2023 to 2027.

Goenka highlighted the immense potential for Japanese trading companies to source from the robust Indian garment industry, which offers unique products and opportunities for trade diversification, particularly with the decline of China's dominance in Japanese apparel imports.

Catch up play

Currently, India's share in total Japanese garment imports amounts to just 1%, presenting ample room for growth.

Goenka further noted that India enjoys a strong business opportunity in Japan, especially considering the decline witnessed in China's garment supply to the country over the past five years.

Strong pitch; He emphasized India's advantage in terms of duty-free access for Ready-Made Garments (RMG) following the Indo-Japan Comprehensive Economic Partnership Agreement (CEPA), compared to China and Turkey, which face approximately 9% duties.

Inherent advantages

Echoing Goenka's sentiments, Sudhir Sekhri, Vice Chairman of AEPC, highlighted India's advantageous position with abundant raw materials such as cotton, jute, silk, and wool, along with the second-largest spinning and weaving capacity globally.

This resource availability enables the industry to achieve a 95% domestic value addition, offering a complete value chain solution from farm to fashion. 

Sekhri emphasized India's competitive edge in terms of shortened lead times to reach buyers, aided by its skilled workforce and technological advancements that result in high-quality textiles meeting global standards.

Chairman of F&E, Ashok Rajani, expressed the aim of AEPC to provide a global platform for showcasing India's best apparel designs and styles, aligned with the latest fashion trends.

The fair exhibits a wide range of traditional cotton and unique products, including ladies' and men's apparel, outerwear, jackets, pants, skirts, stoles, nightwear, shorts, leggings, fashion accessories, and organic and sustainable products.

Additionally, it showcases home fashion products such as fabrics, bed and pillow covers, cushions, curtains, rugs, belts, tableware, home furnishings, and interior goods. Rajani expressed confidence that Japanese buyers would find a diverse selection of quality products to fulfill their sourcing requirements.

Intellectual platform

Alongside the India Tex Trends Fair, seminars and B2B business delegation meetings were held to facilitate stronger understanding and collaborations between industry stakeholders from 19th to 21st July 2023.

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15 July  2023, Mumbai

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01 August 2023, Mumbai

A Remarkable Achievement

AKM Salim Osman has achieved an extraordinary feat, as recently announced in a press release, by being re-elected as the President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) for the term of 2023-2025.

This remarkable accomplishment marks his seventh consecutive term in office.

Salim Osman: A Distinguished Leader with Multiple Roles

Salim Osman, well-known for his role as the Managing Director of Wisdom Attires Ltd, holds an additional significant position as a Jatiya Party lawmaker, representing the Narayanganj-5 constituency. Notably, he is also the brother of the ruling Awami League lawmaker, Shamim Osman.

A Victory Without Opposition

In an unopposed victory, the BKMEA election board declared the results on Tuesday, revealing that Salim Osman and eight other office bearers were elected without any competition. Interestingly, no other candidates had submitted nomination papers for the election, further solidifying Salim Osman's position as the President.

New Faces in Leadership: Executive President and Senior Vice President

The press release also introduced the new additions to the leadership team. Mohammad Hatem, the Managing Director of MB Knit Fashions Ltd, was elected as the Executive President of BKMEA, while Md Monsoor Ahmed, the Managing Director of Motaher Color Ltd, will take on the role of Senior Vice President.

Eminent Vice Presidents Join the Team

The list of elected vice presidents comprises distinguished individuals such as Fazle Ehsan Shamim, Amal Poddar, Gauhar Siraj Jamil, Akhter Hossain, and Ashikur Rahman.

Each of them is expected to play vital roles in the affairs of the association. Additionally, Morshed Sarwar (Sohel) has been elected as the Vice President (Finance), bringing his valuable expertise to the team.

Continuing the Winning Streak

In a previous unopposed election, on July 20, the election board announced the successful election of all 35 candidates for directorship posts under Salim Osman's panel. The absence of opponents resulted in a resounding win, adhering to the provisions of the Trade Organisation Ordinance.

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18 July  2023, Mumbai

Innovation-led model; Innovative technology offers a breakthrough solution for the textile industry, enabling the creation of wash-down aesthetics and vintage looks without the resource-intensive processes of denim dyeing and bleaching.

Revolutionary Approach

The approach, particularly suitable for TENCELTM Lyocell fiber or TENCELTM Lyocell fiber with REFIBRATM technology, elevates the versatility of fabrics and expands design possibilities in ready-to-wear and knit apparel.

Compatible with existing fabric machinery, this groundbreaking method enhances energy efficiency in production, leading to substantial cost-savings and sustainable practices across the supply chain.

Cuts Environmental Impact

By streamlining the dyeing process into a single step, water, energy, and chemical consumption can be reduced by up to 50%, 40%, and 90%, respectively.

"As the demand for environmentally-friendly products rises, designers and manufacturers are increasingly seeking ways to minimize their ecological footprint," states Rex Mok, Vice President of Fiber Technical Marketing and Development at Lenzing.

Unleashing Design Possibilities

With this innovative approach, limitless design options are unlocked for knit apparel and denim-style garments while significantly reducing water usage and promoting sustainability.

Cost efficiency; The new technique is compatible with regular, organic, and natural dyes, allowing yarn makers and fabric mills to maintain continuous production without dye residue issues.

By minimizing machine downtime during color changes, the approach enhances efficiency, reduces costs, and supports sustainable production practices throughout the value chain.

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14 July  2023, Mumbai

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29 July 2023, Mumbai

During the January-June 2023 period, Bangladesh's Ready-Made Garments (RMG) exports to the world achieved a notable growth of 5.65%, totaling US$ 23.99 billion, compared to US$ 22.71 billion in the corresponding period of 2022.

European Union Sees Surge

The European Union witnessed a commendable growth of 4.22%, with total export turnover reaching US$ 12.02 billion, up from US$ 11.53 billion in the same period the previous year.

However, some EU member countries, including Germany, Latvia, Lithuania, Malta, Poland, and Slovenia, experienced declines in imports from Bangladesh.

Exports Registered Growth

On a positive note, exports to France and Italy soared, increasing by 15.2% and 28.6%, respectively, with impressive values of US$ 1.52 billion and US$ 1.14 billion. Spain also displayed a remarkable 19.36% increase, reaching US$ 1.87 billion.

Expand footprint

In addition to traditional markets, Bangladesh's exports to new markets surged by 30.63%, reaching US$ 4.33 billion in Jan-Jun 2023 from US$ 3.31 billion in the same period last year.

Mixed bag

Remarkably, exports to Japan, Australia, India, Turkey, and Brazil showed impressive positive growth of 48.48%, 55%, 32.77%, 33.12%, and 83.28%, respectively.

Conversely, Bangladesh's exports to the USA dipped by 11.36% to US$ 4.23 billion. Nevertheless, exports to the UK and Canada demonstrated growth at 11.67% and 6.65%, amounting to US$ 2.63 billion and US$ 771.67 million, respectively.

However, the United Arab Emirates and Chile witnessed declines of 11.81% and 17.06% in imports from Bangladesh.

CREDITS: BGMEA Press Release.

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18 July  2023, Mumbai

ITME Africa & Middle East 2023, scheduled from November 30th to December 2nd at the Kenyatta International Convention Centre in Nairobi, Kenya, presents a unique and exclusive business platform with the theme "Prosperity through Textile Technology & Engineering."

This event serves as a gateway to the emerging textile industry in Africa and the Middle East, catalyzing its transformation in the coming decades by fostering business, sourcing, collaboration, and investment in the Textile, Textile Engineering, Ancillary & Allied Industries.

With a focus on trade promotion, investment facilitation, and fostering a business-friendly environment, this exhibition aims to forge partnerships among government, businesses, and stakeholders.

ITME Africa & Middle East 2023 facilitates connections with countries such as Ethiopia, Botswana, Egypt, South Africa, and several Middle Eastern nations, opening up an entire continent of new opportunities.

This unique business facilitator enables global interaction, networking, and visibility, allowing textile and textile engineering businesses to tap into the vast potential of Africa and the Middle East.

The event includes new chapters dedicated to Cotton Seed & Cotton Farming Technology & Equipment, Machinery related to Engineering Products, Home Textile Products, and Associated Goods and Services for the Textile Industry. Moreover, it showcases Technical Information Services, Educational Research Institutes, and Centers of Excellence.

Join ITME Africa & Middle East 2023 to connect with the latest textile technologies, empower the industry in Africa and the Middle East, and foster collaboration through trade and technologies.

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13 July  2023, Mumbai

Bangladesh's RMG export achieved a remarkable milestone in FY 2022-23, reaching an unprecedented figure of approximately US$47 billion, displaying a staggering 10.27% year-on-year growth.

This remarkable feat stands out amidst the challenging backdrop of contracting global trade.
Record-Breaking Growth
Landmark Growth; The country's total export earnings soared to over US$55 billion, with the RMG sector contributing an impressive 84.58% to the overall figure.

Notably, knitwear exports experienced substantial growth, amounting to US$25.73 billion with a 10.87% increase, while woven garment exports reached US$21.25 billion, showcasing a commendable 9.56% growth.
Challenging Trade Climate
However, persistent challenges such as cost and price inflation, market volatility, and supply chain disruptions persist.

To sustain growth, strategic initiatives, efficient resource management, and diversification into alternative markets and products are vital.
Dominance Reinforced
As the new fiscal year commences, Bangladesh ambitiously targets US$100 billion from RMG exports by 2030, fueling optimism and a quest for untapped opportunities.

CREDITS: BGMEA Press Release.

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17 July  2023, Mumbai

7th BIGTEX 2023: Dhaka's Premier Garment & Textile Expo

The 7th Bangladesh International Garment & Textile Machinery Expo (BIGTEX) is eagerly anticipated and scheduled to occur in Dhaka from October 26 to 28. The event has gained Bangladesh Garment Manufacturers and Exporters Association (BGMEA) as a valuable partner through an agreement with Redcarpet Global Ltd.

During a recent meeting at BGMEA President Faruque Hassan's Complex in Uttara, Dhaka, the organizing committee, led by Redcarpet Global's CEO Ahmed Imtiaz, discussed measures to ensure a cooperative and well-executed expo. Key representatives from Redcarpet Global were present, including Director and Chief Business Officer Lutfar Hossain, Director and Head of Corporate Affairs Abdullah Al Mamun, and DGM-Marketing Majaharul Islam.

BGMEA expressed gratitude for the opportunity to participate in the prestigious 7th BIGTEX held at ICCB, Dhaka. They commended the organizers for recognizing BGMEA's significant contributions and providing a platform to showcase Bangladesh's thriving garment industry.

BIGTEX encompasses three concurrent exhibitions, targeting the entire garment and textile industry of Bangladesh: Bangladesh International Fabric & Yarn Expo, Bangladesh International Dyes, Pigments and Chemicals Expo, and Bangladesh International Printing, Packaging, and Signage Expo. These exhibitions offer valuable opportunities for visitors, buyers, exhibitors, and industry professionals.

The expo will host around 200 stalls, featuring products from at least 12 countries, including Asia and Europe. Ahmed emphasized the importance of networking platforms like BIGTEX in supporting Bangladesh's economic growth. He stressed the need to focus on value-added, high-end apparel items to sustain competitiveness in the global market.

Moreover, these exhibitions will provide experts, engineers, and technicians in the textile field with access to practical knowledge of recent technological advancements, eliminating the need to travel abroad.

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12 July 2023, Mumbai

Bangladesh's apparel exports surged in the European markets during FY22-23, defying the Russia-Ukraine conflict's economic slowdown.

Data points

Export Promotion Bureau (EPB) data shows a 9.93% YoY increase in apparel exports to the European Union, reaching around $23.52 billion, while the UK market saw an 11.78% YoY growth, surpassing $5 billion. Non-traditional markets also performed well, with Bangladesh's apparel exports rising by 31.38% to $8.37 billion in FY23.

Mixed bag

However, the US and Germany experienced declines of 6.81% and 5.51%, respectively, while exports to Canada increased by 16.55%. Growth was also observed in apparel exports to Japan, Australia, India, South Korea, and China.

Growth concerns remain

Despite positive growth, concerns arise due to low order volumes, factory capacity constraints, increased production costs, and order cancellations. Bangladesh's overall apparel export reached $46.99 billion, accounting for 84.59% of total export earnings in FY23.

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