Bangladesh’s market share in garments exports to the US market has increased. At the end of last year, the market share of Bangladesh stood at 8.76%. In the first 3 months of this year, it has increased to 9.15%.
In the first three months of this year (January-March), garments worth 248 crore dollars were exported from Bangladesh to the United States market. In local currency, this is equal to Tk 21 thousand 328 crores. The number of garments exported in the first three months of this year was 62.23% more than the same period last year.
The US Department of Commerce’s Office of Textiles and Apparel (OTEXA) provided the information. In the first three months of this year, US brands and buyers imported garments worth 2 thousand and 431 crore dollars’ worth of clothing from around the world. Compared to the same period last year, the import has increased by 39.71%.
Bangladesh has long been the third-largest exporter of readymade garments in the US market. Last year, Bangladesh exported garments worth 715 crore dollars to this market. This revenue is about 37% more than in 2020. In the first month of this year, the entrepreneurs of Bangladesh surpassed that growth.
China continues to be the largest exporter of garments to the US market. In the first three months of this year, Chinese entrepreneurs exported 532 crore dollars’ worth of garments. These exports are 44% higher than the same period last year. At present, China’s market share in the United States is 24%.
Vietnam is the second-largest exporter of readymade garments in the United States after China. In the first three months of this year, the country exported 445 crore dollars’ worth of garments. These exports are 29.86% higher than the same period last year. Their market share is 17.39%.
