Bangladesh’s Clothes Sales to US Drop in 2023
Bangladesh's Clothes Sales to US Drop in 2023
Bangladesh: their clothing exports to the US, their biggest customer, tanked 25% last year. This means less money for the country and fewer fancy threads for American closets.
Bangladesh Garment Manufacturers and Exporters Association president Faruque Hassan said that Bangladesh was not the only country which witnessed negative growth in exporting apparel to the US market rather the exports of all readymade garment manufacturing countries declined on the market in 2023.
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Why the slump? Two main reasons:
Global slowdown: The world economy isn't doing great, so people are buying less stuff, including clothes.
High prices: Inflation is hitting everyone ...