Bangladesh's apparel share in US market falls by 3.33%
India and Vietnam’s apparel exports in the US market grew by 2.68% and 3.93% respectively during this period
Bangladesh's exports saw a growth of 11.76% in 5 months from July-November of FY2024-25 compared to the same period of the previous fiscal year.
According to the data of the Export Promotion Bureau (EPB), Bangladesh exported goods worth $ 19.9 billion in the July-November period of the current FY 2024-25, of which 80.97% are readymade garment products.
Bangladesh's share of apparel exports into the US market decreased by 3.33% year-on-year in the January-October period.
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The apparel export share of the Chinese decreased by 1.06% in the US market. India and Vietnam's apparel exports in the US market grew by 2.68% and 3.93% respectively during this period.
Bangladesh's ready-made garment (RMG) exports have been growing, and the country is the second-largest exporter of RMGs in the world. Vietnam is Bangladesh's competitor in the global market and their share rising in the US market indicates the country (Vietnam) is getting an additional advantage, said businessmen of this sector.
In the financial year 2022–2023, Bangladesh's RMG exports reached $47 billion, up from $42.6 billion in the previous year. In the period from July 2023 to May 2024, RMG exports increased by 2.86% to $43.85 billion.
