Bangladesh is falling behind in garment exports to the U.S. market. Bangladesh has been falling behind competitors in the US market for garment exports for quite some time. While Bangladesh’s export growth in this big market has slowed this year, Vietnam, Cambodia, and Pakistan have all experienced growth. Recently, India’s garment export growth has reverted to a positive trend.
Bangladesh is falling. Bangladesh shipped $5.41 billion in garments to this market in the first nine months of this year, a nearly 6% decrease from the same period last year. Meanwhile, India’s exports climbed by 0.46 percent, as did garment shipments from Vietnam, Cambodia, and Pakistan.
This information is based on current figures from the Office of Textiles and Apparel (OTEXA) of the United States Department of Commerce. It adds that, in the first nine months of this year (January-September), US importers brought in $59.32 billion worth of clothes from various nations across the world, which is 2.47 percent less than the same period previous year.
Bangladesh is falling
After the Russia-Ukraine war began in 2022, inflation in the United States began to climb dramatically. In June of that year, inflation hit 9.1 percent, the highest level in 40 years, prompting consumers to cut spending on non-essential items. Inflation reduced as the country implemented various measures, although the average inflation rate stayed at 4.1 percent last year. As a result, in 2023, U.S. importers cut garment imports by 22% compared to the previous year, leading in a 21 to 25% decrease in garment exports from the top five exporting countries. Bangladesh is falling–
According to OTEXA data, Bangladeshi entrepreneurs shipped $5.41 billion in garments to the US market from January to September of this year. This export represents a 6.29 percent reduction from the same period last year. Last year, Bangladesh shipped $7.29 billion in garments to this market, a 25% decrease in exports. Bangladesh is the third-largest garment exporter to the United States, with a 9.07 percent market share for its clothes.
While Bangladesh’s export growth in this sector is slowing, several other countries are doing well. Vietnam is the second-largest exporter to the United States market. In the first nine months of this year, the country exported $11.21 billion in clothes, representing a 1.27 percent increase over the same period last year. Currently, Vietnam controls roughly 19% of the market.
Last year, India’s garment exports to the US market plummeted by 21%. Exports also fell throughout the first nine months of this year. However, at the end of September, there was an improvement. Overall, India exported $3.64 billion in clothes in the first nine months of this year, representing a 0.46 percent increase. India is the market’s fourth-largest exporter, followed by Indonesia.
Bangladesh is falling
Similarly, garment exports from Cambodia and Pakistan are expanding. Cambodia shipped $2.78 billion in garments to the United States in the first nine months of this year, representing a 7.15 percent rise over the same period last year. Pakistan, on the other hand, exported $1.58 billion in garments between January and September of this year, representing a 2.41 percent increase.
Although China is the biggest clothing supplier to the United States, it has yet to recover. Currently, China controls 21% of the market. In the first nine months of this year, the country exported $12.51 billion worth of clothing, a 1.95 percent reduction from the same period previous year.
Bangladesh is falling
