third largest sourcing country for US-based apparel and fashion companies

According to the seventh edition of the survey data, jointly conducted by the United States Fashion Industry Association (USFIA) and the University of Delaware, Bangladesh became the third largest sourcing country for US-based apparel and fashion companies in 2020, progressing from its sixth position in the last year despite the COVID-19 pandemic, according to a latest study. The study revealed that Bangladesh improved its position, mainly because it offers the ‘most competitive price’ and exports similar products over the years. Approximately half of the respondents revealed plans for the next two years to modestly increase sourcing from a few Asian countries including Bangladesh, Indonesia, Vietnam and India. In the first five months of 2020, Bangladesh accounted for 9.4% of US apparel imports, which was a record high and up from 7.1% in 2019.