What is needed now is for the sector to continue to innovate
There is no doubt that, over the past few decades, the RMG sector of Bangladesh has been the unprecedented champion of our growth and the definitive factor in propelling the nation towards significant economic milestones.
Therefore, it is fantastic news that Bangladesh has emerged as the top exporter of denim to the EU and in the top three in the US in 2018, a testament to the effort and dedication shown by the sector in continuing to grow and improve.
According to the European Statistical Office, Bangladesh exported denim products worth $1.65 billion in 2018, up by 11.46% from $1.47bn in 2017, and holding over 29% denim export market share in Europe, occupying the top spot among all exporting countries.
In the US, Bangladesh had $566.39m worth of denim exports in 2018, up by 11.72% from $506.94m in 2017 as per the US Office of Textiles and Apparel (OTEXA), putting Bangladesh third in export market share after China and Mexico.
This unprecedented growth in denim exports is a result of local manufacturers not resting on their laurels, tackling the issues at hand, and finding solutions.
In addition to the focus on safer working conditions and sustainable work practices, manufacturers have also introduced the latest technology in washing and fabrics manufacturing to improve the quality of the final product being exported. Additionally, events like the Bangladesh Denim Expo provide the right platform to highlight the products on offer.
Despite the success, what is needed now is for the sector to continue to innovate and invest in a more skilled workforce so that our economy continues to reap the benefits for decades to come.