Buyers Lose Confidence, Bangladesh Clothing Exports Show A Downward Trend

Bangladesh's clothing products are losing orders in the tragedy of Rana square and the safety and compliance of fire events at tatelin fashion shop.

The downward trend will continue in the coming months unless measures are taken to boost buyer confidence.

Bangladesh's exports to the US are losing its strength compared with competitors such as Vietnam, Kampuchea, India and Indonesia, as buyers have begun to cut their orders.

The country's clothing exports to the United States declined for 7 consecutive months, while rival Vietnam, Kampuchea, India and Indonesia showed strong two digit growth, according to the latest data from the US Department of Commerce's office of textile products (OTEXA).

Imports of clothing from Bangladesh continued to shrink in the United States, but all imports increased by 9.77% to 2 billion 570 million square meters in September (SME).

Among the ten largest suppliers, China's exports increased by 12.4% to 1 billion 300 million SME, up 7.4% from August.

In September, Vietnam's growth rate further accelerated, up 23.4% to 254 million SME compared with the previous year, 1.2% higher than in August.

The two largest clothing suppliers in the United States continue to rise, which is still worrying for Bangladesh in the third place in the top ten list.

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In September last year, the US's import from the country dropped by 11% to 111 million SME.

This is the seventh consecutive month of declines this year in Bangladesh since its fall in February.

Meanwhile,

It rebounded from 4.4% in August to 17.1% in September, up to 86 million SME in September.

Kampuchea was flat at 113 million SME, an improvement of 9.6% from a year earlier in August.

Imports from other large US suppliers increased by 8.8% to 105 million SME in September, up 10.9% to 0.67SME in Honduras, and 1.1% to 0.74SME in India in September.

We continue to wait for the alliance's inspection report to crack down on garment exports to the US market.

Anwar-ul- Alam Chowdhury, former president of Bangladesh garment manufacturing export association (BGMEA), said.

The alliance has completed a safety assessment of Bangladesh garment factories and found that fewer than 2% of factories in October had structural defects.

Chowdhury also worries that if measures are not taken to restore consumer confidence, export contraction may continue.

Dark clouds will cover the economic backbone of the whole country, and garment exports account for 80% of the total commodity exports of Bangladesh.