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Bangladesh's garment exports challenges in the two big 'rival' - Textile information - Textile net - Textile integrated service provider
Affected by Bangladesh currencies and the euro rebound in the second half of 2017 Bangladesh's garment exports began to recover. Labour costs in Bangladesh stability of clothing exports also play a positive role. According to the latest official data, in July 2017 to February 2018, Bangladesh's garment exports, in dollar terms, increased 8. By 68% to 186. 400 million dollars, including knitting clothing exports jumped 11. 6%, and woven garment exports grew only 5. 9%. In February 2018, Bangladesh textile clothing exports increased 13. 5%, among which the apparel exports achieved double-digit growth, accounting for about 70% of the total amount of textile clothing export in Bangladesh. Throughout 2017, Bangladesh's garment exports year-on-year growth of 4. 8%, the previous year increased only 2. 4%. Bangladesh in 2017 exports to the European Union and the United States are improved, mainly is caused by the export unit price declines. According to statistics, in 2017 accounted for 22 of the eu clothing imports share. 37 5%, increasingly close to China. 3% of the market. Is expected as China's market share is declining, Bangladesh can quickly become the eu's main clothing suppliers. In the past five years, the European Union to Bangladesh's garment imports surged by 64%, for China's imports increased by only 2%. American markets, in the third quarter of 2017 years ago, the United States for Bangladesh's garment imports fell, but recovered in the fourth quarter. Vietnam is strong competitor of Bangladesh's garment exports, mainly due to Vietnam chemical fiber and blended products accounted for is bigger, the Bangladesh too focused on pure cotton products. In the past five years, the United States to Vietnam garment imports increased by 59%, while in Bangladesh's garment imports increased by only 28%. In the coming years, Bangladesh can adjust product structure, the worker's wages will increase, currency could fall further profits will affect the country's textile industry production and export prospects.