Bangladesh has registered a significant 13.73 per cent increase in its volume of exports in babieswear to the US market in the 8-month period of January-August 2020 as against the same period last year.
From 73 million kg of babieswear in 2019, the country has shipped 83 million kg of babieswear in 2020 resulting in the astonishing 13.73 per cent increase in babieswear shipped out of the country.
And the most interesting point is that the US has seen a major decline in its volume of imports in babieswear of 20.55 per cent during the same period; the value decline was 23.31 per cent.
The obvious inference is that the country has been able to grab orders from other destinations all of who saw decline in the category. China as expected saw the biggest downfall in its volumes of 44.83 per cent followed by Indonesia (19.64 per cent), India (9.20 per cent) and then Vietnam (6.90 per cent).
What could have worked in its favour is the low UVR that Bangladesh is offering vis-à-vis the other destinations at US $ 2.83 per unit. This is reflected in the fact that the value of exports, despite the significant rise in volumes, was down 1.75 per cent.
It is interesting to note that China dropped its UVR from US $ 2.31 per unit last year to US $ 1.85 per unit this year, yet business is moving out.