Bangladesh achieves third rank in US apparel exports

Between 2014 and 2023, Bangladesh achieved notable growth in apparel exports to the United States, rising by 50.79%, as reported by the Office of Textiles and Apparel (OTEXA). This progress has reinforced Bangladesh’s position as the third-largest apparel exporter to the US, following China in the lead and Vietnam in second place. In 2014, Bangladesh exported $4.83 billion worth of apparel to the US, which peaked at $9.73 billion in 2022. However, 2023 saw a sharp decline, with exports dropping to $7.29 billion, coinciding with a 22.04% decrease in overall US apparel imports. Similarly, China's exports to the US declined by 45.24% during the same period, falling from $29.79 billion in 2014 to $16.32 billion in 2023. In contrast, Vietnam recorded a 52.96% growth, reaching $14.18 billion in 2023. Other countries like India, Pakistan, and Cambodia experienced growth in their US apparel exports, while nations such as South Korea, Mexico, Honduras, and Indonesia faced declines. Despite recent challenges, Bangladesh has managed to surpass India’s market share in the US, thanks to its competitive production capacity, skilled workforce, and high-quality apparel products.