Bangladesh clothing exporters target Asia as Western demand fades

DHAKA -- Bangladesh's huge clothing industry is looking for new markets in countries such as Japan and South Korea, hoping to broaden its customer base as surging inflation stifles orders from key buyers in North America and Europe.

The South Asian nation's producers of ready-made garments contribute around a fifth of its gross domestic product and more than 80% of its export earnings. But they face slumping demand, with three quarters of the sector's exports usually going to the European Union and the U.S., where customers are grappling with the economic fallout of Russia's invasion of Ukraine.