Bangladesh’s apparel exports to the US grew 9.83 per cent last year. Bangladesh’s readymade garment exports to the US in January to June 2019 were 14.49 per cent higher than in the same period of 2018. From July to December they grew by only 5.19 per cent.

That means export growth to the US market was satisfactory until the first half of 2019 but it declined in the second half of the year. The country failed to achieve the required export growth in the US market in 2019 as it could not take advantage of the US-China trade war. The export growth of Vietnam and Cambodia, two competing countries of Bangladesh, to the US was much higher than Bangladesh as they grabbed most of the business shifted from China due to the trade war. Bangladesh’s competitiveness is eroding due to the increasing production cost and overvalued local currency. Exports are expected to decline more in the coming months. The country’s export earnings have continued to slump as the major economies of the world are facing a recession amid the US-China trade war, reducing the buying aspirations of consumers. Europe is the pivotal export market for Bangladesh. While Bangladesh relies on apparel exports consumers have cut back on clothing and entertainment.