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Bangladesh’s garment exports to the US moves North

With upward increase of garment, Bangladesh’s overall exports to the US rose 1.12 per cent to $3.6 billion in the first seven months of this year, reveals data from the US Department of Commerce. Between January and July, manufacturers exported $3.36 billion of garment products to the US that happens to be Bangladesh's single largest export destination. This denotes a year-on-year rise of 0.87 per cent.

Although the growth of apparel exports to the US is not too high, the trend is still inspiring. China has been losing its market share in the US. This is another major reason for the higher growth of Bangladesh's garment exports to the US, it is assumed. Of the top 10 garment exporters to the US, only Bangladesh and Vietnam showed positive trends in the shipments during the period. Vietnam's exports grew 1.83 per cent to $6.51 billion in the first seven months. 

Between January and July, the US import of garment items from the world declined 4.98 per cent to $60.23 billion from $63.39 billion last year. During this time, China's exports declined by 8.49 per cent to $21.39 billion, India’s by 0.97 per cent to $4.39 billion and Pakistan by 10.67 per cent to $1.59 billion.

 
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