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China to become the largest apparel market by 2019

As per a Euromonitor forecast, China is expected to overtake United States to become the largest apparel market by 2019 globally. Keeping pace with this, Bangladesh has been making steady inroads into China. In 2016-17, the country’s apparel export to China witnessed a significant rise of around 14.77 per cent Y-o-Y to reach around $400 million.

However, from July to March 2018, earnings slipped marginally by 5.65 per cent to touch $269 million, compared to what was $285 million in the corresponding period of previous year. China slashing tariffs on imports from five Asian countries is seen as a move to strengthen its defence in the ongoing ‘trade war’ with the United States. But Beijing’s move has opened up a new window of opportunity for Bangladesh. While Macro Style has prominently included China in its future scheme, BGMEA hopes to find some space in the Chinese market.

 

 
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