Bangladesh Garment Exports to US Increased by More Than 50pc

Bangladesh's garment exports to the US have increased by more than 50 percent in the past decade. This was taken from a report by the US Office of Textiles and Apparel (OTEXA). Among the ten countries that export clothes to the US, China is in first place, Vietnam is in second place, and Bangladesh is in third place.

 

Bangladesh has made significant progress in international garment exports in the last decade, especially in the US market. During this period, Bangladesh outpaced even countries like India with its cost-effective manufacturing capacity, high-quality garments, and skilled labor force.

It can also be seen from OTEXA that Bangladesh's garment exports to the US have increased by 50.79 percent. However, according to the statistics of clothing exports to the United States from 2014 to 2023 (10 years), although China is in the first position, the export of its clothing industry has decreased by almost half in a decade. And in that place, Bangladesh and Vietnam have made a strong position. At the same time, the exports of countries like India, Pakistan, and Cambodia have also increased.

 

According to the information of the United States Office of Textiles and Apparel, in 2014 Bangladeshi clothing exports to the United States were 4.83 billion dollars, in 2022 this export increased to 9.73 billion dollars. However, in 2023, this continuity suddenly collapsed. That year, Bangladesh's clothing exports to the United States dropped by almost a quarter to $7.29 billion. US apparel imports declined by 22.04 percent in 2023 due to Bangladesh's apparel exports. However, overall, in that decade (from 2014 to 2023), Bangladesh's garment exports to the United States have increased by 50.79 percent.

 

However, in the past decade, China, South Korea, Mexico, Honduras, and Indonesia have also seen declines in apparel exports to the United States. Among them, South Korea's exports decreased by 13.31 percent, Mexico's by 24.66 percent, Honduras by 6.08 percent, and Indonesia's exports decreased by 17.99 percent.