According to a report by Bangladesh’s “Financial Express” on July 31, from January to May 2019, the price of a single unit of Bangladeshi garment products exported to the United States increased by 25.6%. In the price increase data released by the American Fashion Industry Association, countries have different increases. The unit price of Vietnam’s clothing exports to the United States increased by 23.4%, India increased by 21.2%, and China only increased by 3.3%. Data show that in the first five months of 2019, the unit price of clothing imported by the United States from around the world increased by 10.7%. The United States originally imported clothing from China to import clothing from Bangladesh, Vietnam, and India. The prices of these imports increased by more than 20% in the first five months of this year. Business managers surveyed said that because there is not enough garment processing capacity elsewhere outside China, higher prices need to be paid in Bangladesh to develop production capacity.
The survey shows that Bangladesh is less attractive than its competitors in terms of product transportation speed, adaptability, flexibility and compliance risks. Data shows that in the past 10 years, 60% of Bangladeshi clothing exports to the United States were cotton fabrics. However, there are different opinions on this in Bangladesh. Some people think that this statistic is not scientific and true, while others think that this increase will not continue.
