A research report by the Council of the Fashion Industry of the United States said that among global apparel manufacturing countries, Bangladesh’s product prices are still the most competitive, while Vietnam’s price competitiveness has declined this year.

However, Asia’s status as a major apparel sourcing base for U.S. fashion companies remains intact, led by China and Vietnam.

According to the “Fashion Industry Benchmarking Study 2023″ conducted by the United States Fashion Industry Association (USFIA), Bangladesh remains the most price-competitive apparel manufacturing country in the world, while Vietnam’s price competitiveness has declined this year.

According to the report, Bangladesh’s social and labor compliance score will rise from 2 points in 2022 to 2.5 points in 2023 due to the concerted efforts of various stakeholders to strengthen the security of Bangladesh’s apparel industry since the Rana Plaza tragedy. Social Responsibility Practice.

The report highlights growing social and labor compliance risks associated with sourcing from China, Vietnam and Cambodia, while finding that social and labor compliance risks associated with sourcing from Bangladesh have declined over the past two years , although concerns in this regard remain.

However, Asia’s status as a major apparel sourcing base for U.S. fashion companies remains intact. According to the report, seven of the top ten most used procurement destinations this year are Asian countries, led by China (97%), Vietnam (97%), Bangladesh (83%) and India (76%).