Bangladesh ranks second highest in garment exports in the world and this position is third in the US market. Bangladesh has held this position for the last 10 years.
This information is known from the report of the Office of Textiles and Apparel (OTEXA) of the United States International Trade Administration.
According to the report, Bangladesh is in the third position among the 10 countries that export clothes to the United States. And Vietnam is in the second position and China is in the first position.
However, from 2014-23 (10 years) these statistics of apparel exports to the United States show that although China is in the first position, its apparel industry exports have decreased by almost half in a decade. And in that place, Vietnam and Bangladesh have made their positions.
According to Otexa data, Bangladesh’s garment exports to the United States have increased by about 50.79 percent in the last 10 years. In 2014, while Bangladesh’s garment exports to the United States were 4.83 billion dollars, in 2022 this export increased to 9.73 billion dollars.
However, in 2023, this continuity suddenly collapsed. That year, Bangladesh’s garment exports to the United States fell by nearly a quarter to $7.29 billion. US apparel imports decreased by 22.04 percent in 2023, impacting Bangladesh’s apparel exports.
In 2014, China’s garment exports to the United States, which ranked first, were worth $29.79 billion. There, in 2023, this export comes down to 16.32 billion dollars. That is, within a decade, exports have decreased by about 45.24 billion dollars.
And Vietnam, which is in the second position, exported 9.27 billion dollars of clothing to the United States in 2014. There, in 2023, this export has increased to 14.18 billion dollars. That is, in the last decade, Vietnam’s exports to the United States have increased by 52.96 percent. At the same time, the exports of countries like India, Pakistan and Cambodia also increased.
According to the OTEX report, India’s apparel exports to the US in 2014 were worth $3.40 billion. It will increase to 4.69 billion dollars in 2023. And in 2014, Pakistan’s garment exports to the United States were $1.46 billion, which increased to $2.02 billion in 2023.
On the other hand, in the last decade, Cambodia’s garment exports to the United States have increased by 33.97 percent. In 2014, where the country’s exports were 2.48 billion dollars, it increased to 3.32 billion dollars in 2023.
In contrast, apparel exports to South Korea, Mexico, Honduras, and Indonesia have also declined in the United States over the past decade, along with China. Among them, the exports of South Korea decreased by 13.31 percent, Mexico by 24.66 percent, Honduras by 6.08 percent and Indonesia by 17.99 percent.
It should be noted that Bangladesh has made significant progress in the field of garment exports in the world market in the last decade. Especially in the US market. During this period, Bangladesh surpassed even countries like India with its cost-effective manufacturing capacity, high-quality garments and skilled labor force.
