Bangladesh becomes the country with the fastest growing apparel exports to the United States
According to a global market survey report, Bangladesh became the country with the fastest growing apparel exports to the United States in 2011, with Cambodia, El Salvador and Honduras ranking second to fourth respectively. Based on current price calculations, since the beginning of 2011 so far, the United States’ clothing imports from Bangladesh have increased by 39%, and clothing imports from Cambodia, El Salvador and Honduras have increased by 31%, 23% and 19% respectively. In 2010, clothing from these countries became the cheapest source of clothing supply in the U.S. market. It is reported that 58% of Bangladeshi clothing exports are to Europe and 34% are exported to the United States. Industry insiders said that due to the significant increase in China’s production costs, the competitive advantage of the garment industry is no longer obvious, and Bangladesh also enjoys the advantages of the EU’s zero-tariff and zero-quota market access system.
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