Home / Knowledge / News / Apparel/Garments / Govt blamed for loss of US market share – garment exporters
Govt blamed for loss of US market share – garment exporters
12
Apr '10
With no government backing during the economic meltdown, Bangladesh's exporters, unlike their competitors who cut prices, had to raise prices of their garment exports to the United States, thereby incurring a fall of 4.5 percent last year.

Anwarul Alam Chowdhury, a leading exporter and former President, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said, “The profitable market that we witnessed in USA is now slowly diminishing, as our garment products were highly priced, despite the economic downturn.”

Anwarul also stated that, their competitors such as, China, India, Vietnam and Cambodia, lowered their prices to continue to sustain in the US market. USA is Bangladesh's biggest buyer for its garment products that summed to $3.3 billion in 2009 alone.

While prices of Bangladesh-made garments soared by 2.32 percent in 2009, that of Cambodia's fell by 6.59 percent, China's was cut by 12.44 percent, India's declined by 4.68 percent and Vietnam's plummeted by 12.42 percent.

“Since their governments supplied them with incentives, our competitors were able to offer lower prices, unlike Bangladesh's government that was unsuccessful in taking the right decisions during the crucial times of economic meltdown”, said Anwarul.

While India brought down their currency by almost 28 percent and cut interest rates, Vietnam and Pakistan too, lessened their currencies by almost 30 percent un 2009. On the other hand, China, the biggest apparel manufacturer in the world, during the economic meltdown, increased the export tax rebates.

According to Anwarul, “The local apparel manufacturers can reduce their overseas sales prices by 3 percent, if the government decides to spend $210 million as a stimulus package.” Garments account for 80 percent of Bangladesh's total yearly exports, while the employment generated in this sector is close to 3 million and are mostly women.

Although, in this fiscal year, July 2009 – June 2010, Bangladesh's overseas sales target is $17.6 billion, 13 percent above last year, during the 2008-09 fiscal year, exports rose by 10.3 percent to $15.56 billion, the lowest growth in six years.

Fibre2Fashion News Desk - India


Must ReadView All

Serbian economy minister Goran Knezevic (left) and Taypa president Mesut Toprak after signing the MoU. Courtesy: Serbian Government/SeeNews

Textiles | On 20th Oct 2017

Turkish group Taypa to build textile factory in Serbia

Turkish textile group Taypa will invest euro 35 million ($41.2...

China’s textile & apparel exports rise 4.3% in Sept ’17

Textiles | On 20th Oct 2017

China’s textile & apparel exports rise 4.3% in Sept ’17

Registering an increase of 4.3 per cent year-on-year, the exports of...

Courtesy: Messe Frankfurt

Textiles | On 20th Oct 2017

Heimtextil to focus on textile solutions for architects

Heimtextil 2018, world's leading trade fair for home and contract...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.9%
No
13.2%
Skip
8.8%

Total Votes: 68

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
27.9%
Skip
10.3%

Total Votes: 68

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.3%
No
10.3%
Skip
4.4%

Total Votes: 68

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.0%
No
11.8%
Skip
13.2%

Total Votes: 68


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search