Bangladesh’s earnings from exports to the US saw a robust 15.76 per cent growth during the first quarter of the current fiscal. This represents 20.04 per cent of the country’s total export earnings during the period. Increase in export earnings was mainly due to the good performance of the readymade garment sector.

The US is the largest export destination for Bangladesh’s goods. Major exports to the US market during the period were woven garments, knitwear, frozen shrimps, home textiles and caps. Around 31.94 per cent of Bangladesh’s total woven garment exports entered the US market followed by knitwear at 12.85 per cent.

The 2009-10 fiscal marked the end of an up-and-down period for Bangladesh’s exports to the US. From robust $2.5 billion during the 2000-01 fiscal, exports had fallen below two billion dollars by 2003-04. Exports to the US rose steadily to cross the three billion dollar mark in 2005-06 and peaked at nearly 3.6 billion dollars during the 2007-08 fiscal.

Bangladesh’s export earnings from the US in fiscal 2013-14 were impressive at $5,583.62 million, up from $5,419.60 million in fiscal 2012-13. Exports in 2011-12 were also impressive, totaling $5,100.91 million, slightly down from $5,107.52 million in fiscal 2010-11.