Bangladesh's apparel exports to US down 19.24% YoY in Jan-Feb 2024

08 Apr '24

2 min read

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Bangladesh's apparel exports to the US fell by 19.24 per cent YoY in value to $1.18 billion and by 12.79 per cent YoY in volume to 395.69 million sq m in the first two months this year, according to the US Office of Textiles and Apparel.
China's apparel exports to the US grew by 0.48 per cent YoY in value and 14.94 per cent YoY in volume during the period.

Bangladesh's apparel exports to the United States dropped by 19.24 per cent year on year (YoY) in value to $1.18 billion and by 12.79 per cent YoY in volume to 395.69 million square metres in the first two months this year, according to figures released by the US Office of Textiles and Apparel (OTEXA).

Exporters attribute a number of domestic issues like the high cost of doing business and a lack of diversification to their loss of export share in the US market.

Bangladesh’s main rivals China and Vietnam, however, witnessed a positive trend.

China's apparel exports to the United States grew by 0.48 per cent YoY in value and 14.94 per cent YoY in volume during the first two months this year. Vietnam's apparel exports to the US in the two months also increased by 0.14 per cent YoY in value and by 8.81 per cent YoY in volume.

However, overall US apparel imports during the period dropped by 7.78 per cent to $12.18 billion.

Apparel work orders are slow and exporters are struggling to meet lead times for current orders due to a severe gas crisis, a financial newspaper in Bangladesh reported.

The United States’ apparel imports from Cambodia in the two-month period increased as well by 15.34 per cent YoY to $545.20 million. India's apparel exports to the US market during that period fell by 13.75 per cent YoY to $759.48 million.

US apparel imports from Indonesia in the first two months this year decreased by 17.25 per cent YoY to $660.35 million.

Fibre2Fashion News Desk (DS)

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