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Bangladeshi clothing imports witness stunning growth
01
Feb '10
In the US $26.5 billion Japanese clothing and accessories market and which is the third biggest importer after US and EU, the Bangladeshi apparel exporters have seized a higher market share of this lucrative market and now stand next, only to China and Vietnam.

In the process it has beaten its Asian competitors like India, Indonesia and Myanmar. Shipments from the sector to Japan grew by a breathtaking 140 percent from $52 million in 2008 to $125 million in 2009, that too in a year of acute slowdown.

The Japanese rush to source apparels from Bangladesh began after Japanese retail giant Uniqlo opened a sourcing office in Dhaka, prompting many other Japanese apparel and accessories retailers to set their sights on Bangladesh.

China has a near 80 percent share in the $26.5 billion Japanese clothing market with other countries like Vietnam, Bangladesh, India, Indonesia and Thailand holding miniscule markets shares compared to the Chinese garment exporters.

Fibre2fashion News Desk - India


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