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Garment exports to US down six per cent

Bangladesh’s readymade garment exports to the United States fell by six per cent in the first three months of the current calendar year.

Bangladesh now faces an export duty of 15.62 per cent under America's most favored nations' category.

Garment items account for 95 per cent of the goods exported from Bangladesh to the US market.

US imports of clothing from the rest of the world including China, India, Indonesia, Honduras and Cambodia also declined by around two per cent. There is a change in the attitude of US consumers, who now prefer spending more on electronic gadgets compared to clothes. The US election has also impacted retail sales negatively. Global apparel exports to the US declined 6.44 per cent year-on-year in 2016.

Among the top ten exporters of clothing to the US, export from Vietnam registered a robust 7.21 per cent growth. Export from Mexico, Nicaragua and El Salvador registered moderate growth.

China is the largest source of US apparel imports. Vietnam is in the second place followed by Bangladesh.

All nine out of ten top apparel exporting nations of the world experienced negative growth in shipment to the US in 2016. Only Vietnam's apparel exports increased 0.30 per cent year-on-year in 2016.

 
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