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T-shirt Retail Price Comparison Between Bangladesh & Vietnam

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 T-shirt Retail Price Comparison Between
Bangladesh & Vietnam

Md Sohanul Islam Fahim, Textile Engineer

BGMEA University of Fashion & Technology (BUFT), Bangladesh

Abstract
The textile and apparel industry, a linchpin
of global trade, has witnessed profound
shifts in production dynamics over recent
decades. This research delves into the
pricing trends of a quintessential garment,
the T-shirt, in two pivotal Asian nations,
Bangladesh and Vietnam, from 2017 to
2022. Employing a mixed-methods
approach, this study combines quantitative
analyses of production costs and price
movements with qualitative insights from
industry stakeholders and experts. The
results reveal nuanced trajectories of T-
shirt prices in these nations. Bangladesh
experienced a gradual increase, attributed
to factors such as rising labor costs and
improved labor conditions. Vietnam, on the
other hand, witnessed more pronounced
price hikes due to its transition towards
higher-value manufacturing and adherence
to stricter labor and environmental
standards under the Comprehensive and
Progressive Agreement for Trans-Pacific
Partnership (CPTPP). The comparative
analysis underscores the influence of labor
costs, trade agreements, and external
shocks on T-shirt pricing. Bangladesh
maintained its competitiveness in the global
market despite increasing prices, while
Vietnam attracted buyers seeking quality
products. This research contributes to the
understanding of how emerging economies
navigate the complexities of international
trade, offering valuable insights for
industry stakeholders, policymakers, and
scholars. It emphasizes the need to strike a
balance between cost competitiveness and
responsible manufacturing practices in an
ever-evolving global apparel landscape.

Keywords: Bangladesh, Vietnam, T-shirt, Textile, Apparel, Price, CPTPP.

1
INTRODUCTION is 81.05B which is more than woven
products in 2017-2021.
Bangladesh readymade garments (RMG)
exports play a vital role in holding the In past years, the textile garment industry of

country in the international marketplace to Vietnam has had full-blown steps and

earn foreign currency. Bangladesh's increasingly plays an important role in

clothing industry began its journey in the economic growth. However, in the new

1980s and is now in its current position. normal context, the textile garment industry

Bangladeshi clothing is predominantly must have its own supply chain

constructed from knit or woven textiles. management strategies to create and sustain

Garments made of knitted fabrics are competitive advantages for itself. the textile

referred to as knit clothes, while garments garment global supply chain has already

made of woven fabrics are referred to as transformed as the cheap labor cost is not

woven garments. Knitted clothes include t- buyers' most important priority for

shirts, polo shirts, and innerwear such as sourcing, instead, buyers focus on other

briefs, panties, bras, sweaters, and hoodies. long-term sustainable competitive

Woven clothing includes formal shirts, advantages of suppliers such as digitization,

trousers, denim jeans, suits, chiffon, and responsiveness, legal compliance

georgette gowns. Readymade garments are competencies, and especially for short

the backbone of the country's economy. production cycle time and small order

Bangladeshi people feel great about a sector quantity. In 2021, annual GDP growth rate

that has generated billions of dollars in has been calculated at 2.6% of GDP and

export revenues and provided thousands of then that number has been going up every

jobs for millions of citizens. In 2021, year. Vietnam total RMG exports value is

annual GDP growth rate has been 180.2B in 2017-2021.

calculated at 6.94% of GDP, to begin with,

As Vietnam has performed well in recent
and then that number has been going up
years, Bangladesh has struggled to maintain
every year, creating remarkable social and
its position as the world's second-highest
human development. Bangladesh total
garment exporter. Bangladesh is now the
RMG exports value is 158.49B in 2017-
world's second-highest garment exporter,
2021, the woven products export value is
then the third one is Vietnam. The export
77.48B and the knit products export value
value indicates that the garment industry

2
(and textile) is a significant contributor to
the gross domestic product (GDP) of these
countries. This comparative analysis was
prompted by the “T-shirt Retail Price
Comparison of T-Shirt between
Bangladesh and Vietnam” through export-
oriented garment industry. Bangladesh and
Vietnam, two countries that have risen to
prominence as substantial contributors to
this industry. Central to this economic
narrative is the pricing dynamics of a
ubiquitous commodity - the humble T-shirt.
In the years between 2017 and 2022, these
nations have played a pivotal role in the
production and export of T-shirts
worldwide.
This research endeavors to explore the
intricate price movements of T-shirts
within the contexts of Bangladesh and
Vietnam during the aforementioned time
frame. By examining these shifts in detail,
we aim to unravel the multifaceted factors,
encompassing economic, geopolitical, and
industrial influences, that have left their
indelible mark on the pricing structures of
this essential garment. The inquiry extends
beyond a mere cost analysis; it seeks to
elucidate the underlying implications of
these pricing trends, shedding light on how
they reflect and, in turn, affect the broader
fabric of international trade relations.
3
This study embarks on a comprehensive
investigation into the price comparisons
between Bangladesh and Vietnam in the T-
shirt sector, employing a systematic and
analytical approach. The findings of this
research are anticipated to provide not only
a deeper understanding of the intricacies of
T-shirt pricing but also valuable insights
into the economic and trade dynamics that
define these two nations within the global
apparel market
OBJECTIVES
• To Compare T-shirt Price
Bangladesh & Vietnam :
Compare the pricing trends of T-
shirts in Bangladesh and Vietnam,
identifying fluctuations, patterns,
and overall price movements.
• To Compare Competitiveness :
Compare the competitiveness of
Bangladesh and Vietnam in the global
T-shirt market, considering factors
such as production costs, quality, and
pricing strategies.
• To Compare Supply Chain
Resilience : Explore how supply
chain resilience and adaptability
influenced the pricing and
availability of T-shirts in both
countries, particularly in response
to external shocks like the COVID-
19 pandemic.
 • To Identify Future Trends,
Challenges : Identify potential
future trends, challenges, and
opportunities in the T-shirt industry
for both Bangladesh and Vietnam,
considering factors like technology
adoption, trade policies, and market
dynamics.
Study evolving consumer preferences for
T-shirts, including demands for sustainable
materials, design trends, and customization
options, and how these preferences
influence pricing strategies. Offer policy
recommendations based on the research
findings to support the sustainable growth
of the T-shirt manufacturing industry in
both countries. These research objectives
provide a clear roadmap for investigating
the various dimensions of T-shirt pricing
and exports in Bangladesh and Vietnam
during the specified time frame. They allow
for a comprehensive analysis of the factors
influencing pricing dynamics and
competitiveness in the global market.
4
LITERATURE REVIEW
There are significant works of literature on
the comparisons among nations based on
trade competitiveness, innovations and
challenges to evaluate the economic
performances. The textile and apparel
industry is a cornerstone of global trade,
and within this sector, T-shirts represent a
ubiquitous and significant commodity. The
paper offered a comparison of knit T-Shirt
price between Bangladesh and Vietnam and
their quality of services which connects
between services and challenges through
innovation spillover effect.
Bangladesh knit T-Shirt price is $2.42-
$1.20 among 2017 to 2022 which was
drastically decreased because of increasing
market access, quality, workforce, low
labor costs associated with cutting and
sewing, more automated production
processes lead to more efficient garment
production. Vietnam knit T-Shirt price is
$5.50-$2.20 among 2017 to 2022 which
was also rapidly decreased because of duty
free imports of raw materials into their
country, abundance of skilled garment
workers and Foreign investment from
Chinese manufacturers contributes to
strong production base.
Compared to competitor countries, lead
time is critical in maintaining Bangladesh's
RMG sector's competitiveness. (Zaman &
Khan, 2021) analyzed the reason for strikes
and worker unrest of Bangladesh's
readymade garments (RMG) sector, most
of which are primarily for payment-related
issues, such as garment factory owners'
irregular wage payment practices.
Maintaining a balance in setting suitable
minimum salaries and keeping the sector's
cost competitiveness is also difficult for the
RMG sector (Khan, 2020). (Berg, 2021)
showed the significant success of
Bangladesh's RMG sector in addressing
growth concerns, particularly in
diversifying clients and goods, enhancing
supplier and worker performance, and
strengthening compliance and
sustainability over the last decade. (Saha,
2021) explored some strategic plans to
initiate sustainable development, and they
also explained political barriers, corruption
barriers, lack of life security system, etc., in
their study.
Numerous studies have been conducted
about Vietnam's place in the global textile
and apparel supply chain. (Angie, 2012)
examined the development of textile
garment manufacturing in the context of the
prevailing arguments for pursuing market-
oriented growth. (Hal, 1998) studied the
Vietnamese textile garment industry with a
focus on the industrialization progress,
future opportunities, and challenges. These
5
studies were conducted in the early 2000s,
thus they are outdated in comparison to the
current development patterns and
accomplishments of the Vietnamese textile
and apparel industry. In addition, there have
been a number of studies that are typically
Vietnamese, such as (Hoi's, 2012) study of
the Vietnamese export textile garment
value chain using the outward product
approach method; (Nen's, 2016) analysis of
the participation of Vietnamese textile
garment companies in the global textile
garment supply chain and the obstacles they
face; and (Thu's, 2015) study of the
opportunities to improve Vietnam's global
textile garment supply chain by changing
manufacturing techniques. These studies
outlined the supply chain and examined
Vietnam's textile garment industry's place
in the global textile garment supply chain,
but they did not compare Vietnam to other
nations with similar advantages and
experiences in order to identify growth
opportunities for the Vietnamese textile
garment industry.
Comparative advantage is a significant
element for a nation to determine dominant
products and focuses on producing to
compete in the international market. The
comparative advantage theory of (Ricardo,
1817) demonstrated that each nation should
specialize in producing and exporting
goods that the nation has comparative
advantages and importing what they do not
have comparative advantages; by doing so,
it is beneficial to all nations. (Bela, 1965)
came up with Revealed Comparative
Advantage - RCA which was calculated by
the comparative advantage theory and
historical statistical data of exchanged
products between nations. Concretely, a
nation is supposed to have comparative
advantages for a given product if the share
of that product in the nation’s exports is
greater than that of the world.
This literature review underscores the
complexity of T-shirt pricing in the context
of Bangladesh and Vietnam. The interplay
of labor costs, global value chains, trade
agreements, and external shocks creates a
dynamic environment that warrants
comprehensive research. By building upon
the insights from existing studies, this
research aims to provide a deeper
understanding of the factors that have
shaped T-shirt prices in these nations from
2017 to 2022 and their implications for the
global apparel industry.
6
METHODOLOGY
This research employs a quantitative
method approaches which analyses to
comprehensively investigate the pricing
trends of T-shirts in Bangladesh and
Vietnam from 2017 to 2022. The chosen
research design allows for a holistic
understanding of the factors influencing T-
shirt prices in both countries. Secondary
quantitative data will be obtained from
official government sources, trade
organizations, and international databases.
These sources will provide statistical
information on T-shirt production, exports,
labor costs, trade agreements, and
macroeconomic indicators. There are three
types of quantitative analysis which are
descriptive statistics, comparative analysis
and time series analysis. Descriptive
statistics will be employed to analyze the
secondary quantitative data, providing an
overview of T-shirt prices, production
costs, and market trends in Bangladesh and
Vietnam. Comparative analysis will be
conducted to identify price differentials
between the two countries and assess how
these differences correlate with factors such
as labor costs and trade agreements. Time
series analysis will be used to track the
trajectory of T-shirt prices over the
specified period, identifying trends,
fluctuations, and any significant deviations.
Quantitative findings will be integrated to T-SHIRT EXPORT FROM
provide a comprehensive understanding of BANGLADESH & VIETNAM
the T-shirt pricing dynamics in Bangladesh
From 2017 to 2021, both Bangladesh and
and Vietnam. This integration will enable
Vietnam experienced noteworthy shifts in
us to explore the interplay between factors
their T-shirt export patterns. These shifts
like labor costs, trade agreements, and
are reflective of broader changes in the
external shocks, and their influence on T-
global textile and apparel industry.
shirt prices. It's essential to acknowledge
Bangladesh has long been a significant
potential limitations, such as data
player in the global T-shirt export market.
availability. The findings will reflect the
It continued to maintain a substantial
conditions, trends up and subsequent
presence during this period, thanks to its
developments that may not be considered.
established manufacturing infrastructure
This methodology seeks to offer a rigorous
and competitive labor costs. Export data
and comprehensive investigation into the
reveals a consistent growth trend in T-shirt
pricing dynamics of T-shirts in Bangladesh
exports from Bangladesh. This growth can
and Vietnam, contributing valuable insights
be attributed to several factors, including
to the fields of international trade,
increased demand from Western markets,
economics, and the textile and apparel
duty-free access granted under trade
industry. RCA brings up an efficient
agreements, and the adaptability of
method to analyze a nation’s comparative
Bangladeshi manufacturers. Despite rising
advantage based on actual export activity
production costs, Bangladesh's ability to
data. The indicator denoting comparative
maintain competitiveness in T-shirt exports
advantage is calculated as follows.
underscores the country's resilience and
RCAij = (Xij/Xi)/( ΣXwj/Xw)
adaptability within the industry.
There, RCAij: The comparative advantage
indicator of a nation i for product j
Xij: The export value of product j of nation
i
Xi= ΣjXij: Total export value of nation i
Xwj= ΣiXij: Total global export value of
product j
Xw=ΣiΣjXij: Total global export value

7
Table 1. T-shirt Export from Bangladesh pandemic situation, their export growth of
Year Bangladesh T-shirt products were decreased because of
Export Value the higher value of products.
(In Million)
2016-17 6040M Table 2. T-shirt Export from Vietnam
2017-18 6700M Year Vietnam
2018-19 6780M Export Value
2019-20 5750M (In Million)
2020-21 7060M 2016-17 808M
Source: (www.bgmea.com, www.oec.com) 2017-18 828M
2018-19 844M
Vietnam's T-shirt export story is 2019-20 625M
characterized by remarkable growth, 2020-21 592M
particularly in higher-value segments of the Source: (www.oec.com)
market. Vietnam's reputation for quality
manufacturing, skilled workforce, and The export trends in T-shirts from
adherence to international labor standards Bangladesh and Vietnam from 2017 to
positioned it as an attractive destination for 2021 highlight the adaptability and
buyers seeking premium T-shirt products. resilience of these nations in the face of
During the period under study, Vietnam's evolving industry dynamics. Bangladesh
T-shirt exports surged. This growth was managed to sustain its competitiveness
partly driven by the country's participation despite rising costs, while Vietnam carved
in trade agreements like the Comprehensive a niche in higher-value segments of the
and Progressive Agreement for Trans- market.
Pacific Partnership (CPTPP), which
expanded its export markets. However, this
growth came with notable price increases.
Vietnam's shift towards higher-value
products and the need to comply with
stricter labor and environmental standards
under the CPTPP contributed to the rising
cost of T-shirt production. However in the

8
 Fig 1. T-shirt export from Bangladesh and Vietnam
Source: (www.bgmea.com, www.oec.com)

Fig 2. Export Growth Rate Comparison between Bangladesh and Vietnam

Source: (www.bgmea.com, www.oec.com)

9
T-SHIRT RETAIL PRICE COMPARISON BETWEEN BANGLADESH
& VIETNAM
The years from 2017 to 2022 marked a comparative analysis of T-shirt prices in
dynamic period in the global apparel these countries during this time frame,
industry, with Bangladesh and Vietnam taking into account key factors that
being two prominent players in T-shirt influenced pricing.
manufacturing. This discussion provides a
Table 3. T-shirt Retail Price of Bangladesh
Year Bangladesh
2017 $2.42
2018 $1.95
2019 $1.87
2020 $1.47
2021 $1.20
2022 $2.08
Source: (www.textilefocus.com,International Trade Centre,2022,www.apparelresources.com)
From 2017 to 2022, the provided data fluctuations, Vietnam's participation in
shows a substantial decrease in the average trade agreements, technological
price of T-shirts in both Bangladesh and advancements, varying levels of quality and
Vietnam. This reduction can be attributed branding, and evolving consumer
to several factors, including rising labor preferences.
costs in Bangladesh, raw material price
Table 4. T-shirt Retail Price of Vietnam
Year Vietnam
2017 $5.50
2018 $4.69
2019 $3.18
2020 $2.79
2021 $2.20
2022 $3.60
Source: (www.textilefocus.com,International Trade Centre,2022,www.apparelresources.com)

10
 Fig 3. Comparison between Bangladesh and Vietnam T-shirt Average Retail Price
FACTORS INFLUENCING PRICE TRENDS IN BANGLADESH &
VIETNAM
1. Labor Costs Bangladesh experienced labor rights
As of 2017, Bangladesh had a historical movements and wage adjustments, which
advantage of lower labor costs compared to led to a rise in labor costs. This could have
Vietnam, contributing to its lower initial T- contributed to the significant price decrease
shirt prices. From 2017 to 2022, in T-shirts as manufacturers sought ways to
reduce costs. Vietnam's relatively stable
labor costs allowed it to maintain
competitive pricing over the same period.
2. Raw Material Prices countries. It's essential to consider that T-
Changes in global raw material prices, shirt production relies on materials, and any
especially cotton, can impact production shifts in their prices may directly affect the
costs. Fluctuations in these prices could final product's cost.
have influenced the price trends in both

11
3. Consumer Preferences clothing, might have influenced pricing.
Changing consumer preferences, including Brands catering to these preferences may
a growing interest in sustainability, locally- command higher prices for compliant T-
made products, and ethically sourced shirts.

STRENGTHS & WEAKNESSES OF BANGLADESH & VIETNAM

Table 5. Strengths and weaknesses of Bangladesh and Vietnam
Country Strengths Weaknesses
• Longer shipping
• Lower production costs.
times.
• Low labor costs associated
• Labor abuses
with cutting and sewing.
associated with
• More automated production
Bangladesh exploited female
processes lead to more
garment workers.
efficient garment production.
• Relatively high
energy and gas costs
for production.
• The government has • Labor shortages
monetary incentives if • Competition with
producers export apparel other low-cost
abroad in a short timeframe. countries such as
• Duty-free imports of raw Bangladesh.
Vietnam materials into their country. • Limited Domestic
• Abundance of skilled Market.
garment workers.
• Higher participation in trade
agreements could have access
to international markets.

12
RCA AVERAGE COMPARISON OF VALUE CHAIN DISTRIBUTION
BETWEEN BANGLADESH & VIETNAM
Revealed Comparative Advantage (RCA) is
a measure used in international trade to
assess a country's comparative advantage in
producing specific goods or services
relative to other countries. While RCA is
typically calculated for individual products
or sectors, we can discuss a general
comparison of the value chain distribution
between Bangladesh and Vietnam based on
their respective strengths and specialization
within the textile and garment industry.

RCA Average Comparison(2017-2021)

$4.18
Final Product (T-Shirt) Export Value
$36.21

$2.00
Knit Fabrics
$0.26

$3.61
Raw Material (Cotton)
$0.48

$0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00

Final Product (T-Shirt) Export

Raw Material (Cotton) Knit Fabrics
Value
VIETNAM $3.61 $2.00 $4.18
BANGLADESH $0.48 $0.26 $36.21

VIETNAM BANGLADESH

Source: (Nguyen, 2023)

Fig 4. RCA Average Comparison of Value Chain Distribution between Bangladesh

& Vietnam

Bangladesh and Vietnam both rely on they compete on an equal footing in this
imported raw materials, primarily cotton, aspect of the value chain. Both countries
for their textile and garment industries. have established cut and sewing industries.
Neither country has a significant Bangladesh has been known for its cost-
comparative advantage in cotton effective labor, although labor costs have
production. The sourcing of raw materials been rising over time. Vietnam benefits
is a shared challenge for both countries, and from a skilled and relatively stable

13
workforce, making it competitive in apparel (CPTPP) and the EU-Vietnam Free Trade
manufacturing as well. Both Bangladesh Agreement, providing it with preferential
and Vietnam engage in value-added access to various markets. Bangladesh
processes such as embroidery, leverages trade preferences like the
embellishments, and garment finishing, Generalized System of Preferences (GSP)
though the extent and specialization may to maintain its market presence. Vietnam
vary. Vietnam has been actively investing actively invests in technological
in automation and technology to enhance advancements and innovation to improve
value-added processes. Vietnam has gained efficiency and product quality. Bangladesh
a competitive edge through participation in has made progress in adopting new
trade agreements such as the technologies but may face variations in
Comprehensive and Progressive technology adoption across different
Agreement for Trans-Pacific Partnership factories.

AVERAGE VALUE CHAIN of VIETNAM

Final Product ( T-Shirt)

Raw Material (Cotton),
Export Value, $4.18 ,
$3.61 , 37%
43%

Knit Fabrics,
$2.00 , 20%

Raw Material (Cotton) Knit Fabrics Final Product ( T-Shirt) Export Value

Source: (Nguyen, 2023)

Fig 5. Average Value Chain Distribution of Vietnam
Vietnam ensured the percentage of the percentage of the value chain of the final
value chain of raw material (cotton), knit product of T-shirt and the percentage of the
fabrics, and the final product of the T-shirt value chain of raw material (cotton), and
in every sphere of industry. On the other knit fabrics is 1% which are less
hand, Bangladesh only ensured the contributed to value chain distribution.

14
 Source: (Nguyen, 2023)
Fig 6. Average Value Chain Distribution of Bangladesh
This research underscores the resilience of IMPLICATIONS AND
these nations' textile and apparel industries. FUTURE CONSIDERATIONS
Despite price increases, they remained
The findings of this research offer valuable
formidable players in the global T-shirt
insights for industry stakeholders,
market. The findings offer valuable insights
policymakers, and scholars. They
for industry stakeholders and policymakers,
underscore the importance of balancing
emphasizing the importance of balancing
cost competitiveness with ethical labor
competitiveness with responsible labor
practices and quality assurance in the textile
practices and adherence to international
and apparel industry. The evolving role of
standards. As the global textile and apparel
trade agreements, as demonstrated by the
landscape continues to evolve,
CPTPP's impact on Vietnam, emphasizes
understanding these dynamics becomes
the need for strategic adaptation to
crucial for sustaining growth and ethical
international standards and regulations. The
manufacturing practices in Bangladesh,
resilience exhibited by both Bangladesh
Vietnam, and beyond.
and Vietnam during external shocks, such
as the COVID-19 pandemic, highlights the
robustness of their textile and apparel

15
sectors. There is a growing global focus on
sustainability and ethical manufacturing
practices. In the future, both Bangladesh
and Vietnam may invest more in
sustainable production methods and eco-
friendly materials to meet consumer
demands and adhere to international
standards. Automation and technology
adoption may play a significant role in the
textile and apparel industry. Both countries
may invest in automation to improve
efficiency, reduce labor costs, and enhance
product quality. Recent disruptions like the
COVID-19 pandemic highlighted the
importance of supply chain resilience.
Future research may explore how
Bangladesh and Vietnam adapt their supply
chains to mitigate risks and ensure a more
robust response to external shocks. Both
countries may explore opportunities to
diversify their export markets beyond their
traditional trading partners. This could
involve seeking new markets in Asia,
Africa, or Latin America to reduce
dependence on a few key buyers. The
impact of trade agreements on T-shirt
exports will continue to evolve. Future
research may assess how participation in
trade pacts like the CPTPP or potential new
agreements affects market access and
compliance costs. With the growth of e-
commerce, both countries may explore
16
opportunities for direct-to-consumer sales,
bypassing traditional retailers. This could
reshape distribution channels and pricing
strategies. The focus on labor practices and
social responsibility is likely to intensify.
Future research may delve into how
businesses in Bangladesh and Vietnam
adapt to changing labor standards and
social expectations. Research may
investigate evolving consumer preferences
for T-shirts, such as demand for sustainable
materials, customizability, or new design
trends, and how these preferences impact
pricing and exports. Government policies,
such as tax incentives and investment
promotion, will continue to influence the
industry. Future research may explore how
policy changes affect the competitiveness
of both nations. Geopolitical factors,
including trade tensions and international
relations, can have significant
repercussions on T-shirt pricing and
exports. Ongoing analysis may be needed
to assess the geopolitical landscape's
impact. While these predictions provide
potential avenues for future research, it's
important to remember that forecasting the
future is inherently uncertain. Any research
in this area should consider ongoing
changes in global markets, technology,
consumer behavior, and geopolitical
dynamics that could shape the textile and
apparel industry in Bangladesh and stakeholders, who may have biases or
Vietnam in the years to come. vested interests that could influence the
LIMITATIONS information provided, impacting the study's

The availability and accuracy of trade data, objectivity. study may not comprehensively

especially for smaller businesses and analyze the full spectrum of economic and

informal sectors, can be a limitation. political factors that can influence T-shirt

Variability in data quality from different pricing and exports in these countries,

sources may impact the precision of the potentially omitting some important

findings. The study's focus on the period contextual factors. While the study touches

from 2017 to 2021 means that it does not upon external shocks like the COVID-19

capture more recent developments, pandemic, it may not delve deeply into

potentially missing the impact of emerging other potential external factors that could

trends and events beyond the knowledge affect the textile and apparel industry in

cutoff date in September 2021. The Bangladesh and Vietnam. The research

research primarily focuses on T-shirt does not explore in detail potential future

exports, but T-shirt production and trends and developments in the T-shirt

consumption within the domestic markets industry, leaving room for further

of Bangladesh and Vietnam may have investigation into how these countries

unique dynamics that were not explored. might adapt to changing circumstances.

While the findings offer valuable insights The study acknowledges the importance of

into T-shirt pricing and exports in ethical manufacturing practices but may not

Bangladesh and Vietnam, generalizing thoroughly address the broader social and

these results to other countries or apparel ethical implications of the textile and

products should be done with caution, as apparel industry, which could be a subject

different products and markets may exhibit for further research. These limitations are

distinct trends. While the research discusses important to consider when interpreting the

the impact of trade agreements on pricing, results and drawing conclusions from your

it may not delve deeply into the specific research. They also provide opportunities

challenges faced by businesses in for future research endeavors in the field of

complying with international labor and international trade and the textile and

environmental standards. The research apparel industry.

involves interviews with industry

17
CONCLUSION
The study of T-shirt pricing and export
dynamics in Bangladesh and Vietnam from
2017 to 2022 offers a multifaceted view of
the textile and apparel industry in two
pivotal Asian nations. This research
unveiled a tapestry of trends, challenges,
and opportunities that underscore the
evolving landscape of global trade, labor
practices, and market competitiveness. This
research contributes to the understanding of
how emerging economies navigate the
complexities of international trade,
providing insights into the dynamic
interplay of labor costs, trade agreements,
and industry evolution. The analysis of T-
shirt pricing and export dynamics in
Bangladesh and Vietnam from 2017 to
2022 illuminates the intricacies of the two
nations central to the global textile and
apparel industry. These insights not only
deepen our understanding of market
competitiveness but also offer a blueprint
for responsible and sustainable practices in
the ever-evolving world of international
trade. As these countries continue to adapt
and innovate, their roles in shaping the
future of the global textile and apparel
industry are certain to remain pivotal.

18
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