Friday, February 17, 2023

Bangladesh ready to topple China as top clothing exporter to EU

Good news! One country's loss is another country's opportunity! Competition is good!

Prosperity and higher living standards for one of the long time poverty stricken countries of the world!

"Bangladesh's massive clothing industry is looking to grab China's crown as the top garment exporter to the European Union, as shifting supply chains in the wake of the conflict in Ukraine and other global geopolitical tensions drive up orders to the densely populated South Asian nation.

Boosting shipments to Europe will bolster a crucial part of Bangladesh's economy, with ready-made garment (RMG) manufacturers already contributing around a fifth of the country's gross domestic product and more than 80% of its export earnings."

Bangladesh ready to topple China as top clothing exporter to EU - Nikkei Asia Garment industry is crucial to South Asian nation's economy

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