The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Vietnam sold $29 billion worth of apparel to the world in 2020, while Bangladesh’s ready-made garment exports were valued at $28 billion, the World Trade Organisation’s (WTO) latest World Trade Statistical Review shows.
Bangladesh had been the world’s second largest garment exporter since 2010, according to WTO rankings.
Garment exports from both Vietnam and Bangladesh fell in 2020 due to Covid-19, but Bangladesh’s exports declined at a faster pace than Vietnam’s, the WTO report said. The Southeast Asian nation was a particular beneficiary of orders shifted from China at the very beginning of the pandemic.
China remains the world’s largest exporter of apparel with 31.6 percent of the global total, despite a 7 percent year-on-year drop in 2020 of the total value of its apparel exports, to $142 billion.
ADVERTISEMENT
Learn more:
Why Sourcing From China Just Got More Expensive
Surging demand and supply disruptions are driving up prices for raw materials, labour and shipping in fashion’s largest manufacturing hub.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.