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Monday, 09 September 2019 12:39

Bangladesh exports to US up three per cent

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Bangladesh garment shipments to the US increased three per cent this year compared to last year. Indeed, the US-China trade war has helped a lot. Also, automation in production of garments and distribution too helped. Garment businesses feel they cannot go far with traditional marketing and production in factories and they should be more technology dependent. Some Bangladesh exporters are already in business with Amazon.

Though Bangladesh is benefitting from the trade disputes, the biggest gainer is Vietnam, which received more work orders. The biggest challenges for Bangladesh are fast adoption of automation and exploration of marketing avenues alongside meeting shortages of skilled manpower. Bangladesh’s apparel manufacturers are facing tough competition in export destinations due to a devaluation in the currencies of all emerging countries. The country’s readymade garment sector has already lost its competitive edge in global markets due to a rise in production costs. A lot of money has been spent in improving safety standards to ensure a safe environment for workers. Also manufacturers have to implement the new wage structure from December. Last year shipments to the US, Bangladesh’s largest export destination, actually decreased two per cent.