Bangladesh’s garment exports are not significantly affected by the international financial crisis

Bangladeshi exporters and manufacturers believe that the international financial crisis will have little impact on Bangladesh’s garment exports because they mainly produce low-end products. Due to the international economic recession, the demand for cheap clothing in the European and American markets has increased by 20%. Most of Bangladesh’s main competitors (such as China, India, and Vietnam) produce high-end products. Bangladesh’s high-end products only account for 5%. Therefore, Bangladesh has obvious advantages. So far, Bangladesh has received many orders so far. According to a recent IMF report, Bangladesh’s biggest advantage is having abundant and relatively cheap labor. Despite increasingly fierce competition, Bangladesh’s garment exports will not weaken in the short term.