Bangladesh has experienced a remarkable resurgence in its garment exports to the United States, recording a significant growth rate at the beginning of this year. In January, Bangladeshi entrepreneurs exported ready-made garments worth US $ 800 million to the US, representing an impressive 45.93 per cent increase compared to the same month last year.
This growth rate is the highest among major garment-exporting nations, including China, Vietnam, Indonesia and India. The data, sourced from the Office of Textiles and Apparel (OTEXA) under the US Department of Commerce, indicates that total US garment imports reached US $ 7.2 billion in January, marking a 19.5 per cent rise from US $ 6.03 billion in January of the previous year.
The US continues to be the largest market for Bangladeshi ready-made garments. After facing challenges over the past year, exports began to recover in 2024, with total shipments reaching US $ 7.34 billion by the end of the year, a modest 0.75 per cent increase from 2023. In contrast, 2023 saw a decline of 25 per cent in exports to US $ 7.29 billion, largely attributed to the adverse effects of the Russia-Ukraine war on global trade.
Industry experts have identified new opportunities for Bangladesh, particularly as the US has imposed additional tariffs on imports from countries like China, Mexico and Canada. With a 10 per cent tariff on Chinese goods, American buyers are increasingly looking for alternatives, leading to a surge in purchase orders for Bangladeshi garments.
This shift not only boosts current exports but also paves the way for potential foreign investments, as companies consider relocating factories from China to Bangladesh. In January, China exported US $ 1.6 billion worth of garments to the US, reflecting a 13.72 per cent year-on-year growth, while Vietnam’s exports increased by 19.9 per cent to US $ 1.44 billion. Despite these gains, Bangladesh’s export growth has outpaced its competitors, highlighting the resilience and potential of the country’s garment industry.
The recent surge in exports underscores Bangladesh’s ability to take advantage of global market dynamics, reinforcing its position as a vital player in the international apparel trade.
