Business Desk :
More wigs and human hair are being exported from Bangladesh in fiscal 2021-22 as its external demand has been rising amid the coronavirus pandemic.
According to the Export Promotion Bureau, the value of wigs and human hair exported from Bangladesh rose over 120 percent to $36.26 million (Tk 311 crore) in the first five months of the current fiscal year till November 2021.
Export earnings from this segment were also 41 percent higher than the target the commerce ministry set.
Exporters said the coronavirus pandemic and the consequent lockdowns across the world led to a demand hike of wigs and human hair, which in turn boosted Bangladesh’s export.
Presently, over a hundred factories in Dhaka and other cities collect human hair and export it to different countries in the world. Also, there are three factories in export processing zones that make and export wigs and human hairs.
Exporters deploy a number of people to collect human hairs locally and they buy it from the collectors at Tk 10,000 to Tk 15,000 per kg.
The International Society of Hair Restoration Surgery data shows, the global market for wigs and human hairs is likely to reach $13.3 billion by 2026.
Bangladesh exported $57 million worth wigs and human hairs in fiscal 2020-21 and it has a target to earn $64 million by exporting these in the current fiscal year.
