Bangladesh
Almost half of the
fashion brands and buyers of the US surveyed for the eighth edition of the
study titled “2021 Fashion Industry Benchmarking Study†said they may increase
sourcing from Bangladesh over the coming years.
The study, conducted by
the United States Fashion Industry Association (USFIA) and published on July
19, showed that the unit price of apparel products in Bangladesh was $2.5 in
July-May of this fiscal year while the global average price was $2.6 during the
period.
The readymade garment
(RMG) sector of Bangladesh is in the good books of American buyers as it has
historically offered prices that are lower than the global average, according
to the study.
Executives in charge of
purchasing clothing from 31 US-based brands, retailers, importers and
wholesalers participated in the study which was conducted from April to June of
this year.
Of the respondents, 37%
said they would increase their purchase of clothing from Bangladesh, while 11%
expressed that they would definitely increase sourcing from the country.
The respondents said that
apparel with the “Made in Bangladesh†tag enjoyed a prominent price advantage
over many other Asian suppliers.
In the first five months
of this year (January-May), Bangladesh exported garments worth $2.58 billion to
the US, which is 15.38% more than the same period of last year, according to
the Office of Textiles and
Apparel (OTEXA)  an affiliate of the US Department of Commerce.
Source:
Dhaka Tribune
Image Source: Google Images
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