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US is a very potential market for Bangladesh Denim Export

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In January to August, 2019 Bangladesh’s denim exports to the United States rose by 5.42%. In the same period, Vietnam’s denim exports to the US rose 34.43 per cent. Pakistan’s denim exports to the US rose 14.20 per cent. As the second-largest exporter of apparel goods, Bangladesh was supposed to gain from trade conflicts in capturing a bigger market share of denim products. However Bangladesh’s competitors, Vietnam and Pakistan, have gained a higher share. Most of China’s trade is shifting to Vietnam and Cambodia as US retailers and investors feel comfortable due to a shorter lead time and a better business environment. Vietnam has gained the most from the US-China trade conflict because of its readiness to welcome the redirected trade and it has a diversified product basket and received a large amount of FDI relocated from China. Buyers are not willing to come to Bangladesh as the ease of doing business is still lower compared to other competing countries. Vietnam and Pakistan have gained as they have devalued their currencies, while the appreciation of Bangladesh’s currency against the dollar is eating up Bangladesh’s competitiveness in global markets.

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