Bangladesh May Lose Readymade Garment Export Orders From China.

Views : 144
Update time : 2023-11-08 16:16:18
Bangladesh May Lose Readymade Garment Export Orders From China.
For the first time since 2019, demand for inspections and audits by Western apparel buyers in Bangladesh fell 10 percent year-on-year between January and September, while it rose 14 percent in China, QIMA said.

US buyers seem to be scaling down their textile and garment sourcing from Bangladesh, which should diversify its suppliers to protect exports, the report said.
For the first time since 2019, western apparel buyers' demand for inspections and audits in Bangladesh declined year-on-year for the first time between January and September this year by 10 percent, while it rose by 14 percent in China, according to a new report by QIMA, a Hong Kong-based quality control, and supply chain auditing firm.

Global apparel brands and retailers are pushing to increase sourcing from China and decrease sourcing from Bangladesh, the report noted. US buyers in particular seem to be sourcing fewer textiles and garments from Bangladesh, the report said.

Data from the Bangladesh Export Promotion Bureau (BEPB) also showed that the country's apparel exports in October this year declined by about 14 percent year-on-year to $3.16 billion, the lowest monthly value since August 2021, when the industry earned only $2.73 billion.
The report suggests that US and EU buyers' interest in sourcing from China may be picking up again - in the first nine months of 2023, China's relative share of their supplier mix grew for the first time since 2019.

With consumer spending in the West slowing due to fears of an economic downturn, brands and retailers may once again prioritize China as a supplier to take full advantage of the country's well-established manufacturing infrastructure, the report noted.

However, the QIMA report suggests that Bangladesh should diversify its suppliers to protect its exports from future shocks.
"The country's apparel industry, which is currently largely based on cotton, would benefit greatly from venturing into man-made textiles," the report said.

Bangladesh has a 34.7 percent share in the EU's cotton imports and only 12 percent in non-cotton apparel imports. Apart from readymade textiles, there is a great potential for exports of footwear, leather, and home textiles.
Related News
Read More >>
ANEX to be Held in Taiwan on MAY22 ANEX to be Held in Taiwan on MAY22
May .17.2024
The 9th Asia Nonwovens Expo (ANEX) will be held at the Nangang Exhibition Hall in Taipei, Taiwan from May 22 - 24. ANEX is the most important place for nonwovens industry professionals, exhibitors, and the medias to communicate.
Nonwoven in daily life ----- medical and healthcare Nonwoven in daily life ----- medical and healthcare
May .09.2024
Nonwovens are extensively used in the medical field and in protection against biological agents in other sectors.
Nowadays nonwovens innovations including new technology and new material is developing. It makes nonwovens more and more important in medic and healthcare.
Techtextil & Texprocess Rounded Off Techtextil & Texprocess Rounded Off
Apr .29.2024
On 23 April, the highly anticipated international trade fair for technical textiles and nonwovens ----Techtextil & Texprocess opened at the Messe Frankfurt exhibition center in Germany. With 38,000 visitors from 102 countries and 1,700 exhibitors from 53 countries, Techtextil & Texprocess have grown in terms of exhibitor numbers and recorded a 29% increase in visitor numbers. At the leading trade fairs, the density of forward-looking textile solutions that are transforming entire industries was particularly noticeable.
Nonwovens in daily life ----- filtration Nonwovens in daily life ----- filtration
Apr .23.2024
Filtration is the third-largest market for nonwovens and the second-largest end-use market for durable nonwovens.