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Garment exports double to Japan
02
Sep '09
Exports of Readymade Garments from Bangladesh to Japan was more than double for the fiscal 2008-09 valued at US $74.381 million compared to $28.035 million in the previous year i.e. in 2007-08, revealed the data of Export Promotion Bureau (EPB).

The Asian giant has reduced its RMG imports from China, which helped garment industry of Bangladesh to increase its sales in Japanese market, said Mr. Fazlul Hoque, President Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

The Japanese government has recently advised importers to divert business to various countries. In the year 2008-09, knitwear exports were $21.986 million of the overall apparel exports against the exports of $7.234 million in the fiscal 2007-08, revealed EPB data.

Mr. Hoque said that Japan is a ready market for Bangladesh as it produces high quality products, the major criteria of Japanese market. The ongoing trend indicates that the apparel exports of Bangladesh will reach billion dollars in the next five years.

One of the largest retail chains in Japan, Uniqlo is making investments in Bangladesh to buy garment items and is intending to do initial investments of $100 million, informed Mr. Hoque.

Japan, the second largest economy in the world, stands fourth among the largest knitwear importers in the world, and imports $11 billion worth of knitwear products and woven goods worth $12 billion per year.

In the year 2008, Japan imported $20 billion worth of garments, about 84 percent of its overall global import of clothing, from China.

Italy is the second largest garment products exporter to Japan, with a 2.87 percent market share; while the market share of Bangladesh in Japanese apparel market is about 1 percent, as per the BKMEA findings.

Survey of BKMEA revealed that in recent years, knitwear imports of Japan from countries such as the US, Korea and Italy fell down, while its imports from Thailand, Vietnam, India, Cambodia and Bangladesh have improved.

Garments items such as manmade fibre sweaters, pullovers and cardigans are the top import items of Japan, while men's and women's cotton T-shirts and knitted shirts witness high demands in Japan, said BKMEA data.

Fibre2fashion News Desk - India

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