Bangladesh’s apparel exports to the US market strongly rebounded last year from the Covid crisis and workers’ rights related issues.
The country shipped readymade garment worth $7.40 billion to America,it single largest export market, in 2024,up from $7.25 billion a year earlier, according to International Trade Center (ITC) data.
Apparel shipment to the US slipped to $5.22 billion in 2020 when the whole world grappled with the Covid 19 crisis.
However, the exports bounced back to $7.13 billion in the following year. The exports reached $9.82 billion in 2022.
As per ITC data, the US RMG import from across the globe slumped $81.59 billion in 2023 from $105.35 billion in 2022 before rebounding to $83.71 billion last year.
However, Bangladesh’s market share of ready-made garment imports into the USA declined to 8.85 percent in 2024 from 8.89 a year earlier and 9.33 percent in 2022.
“This shows how the post-COVID effects, along with all other world crises, reshaped the market and economy,” said Mohiuddin Rubel, managing director of Bangladesh Apparel Exchange.
At the same time, it demonstrates Bangladesh’s ability to bounce back from crises by demonstrating its dedication to worker issues, safety, compliance, innovation, and diversification, he added.
“As a result, the country continues to be a good choice for American brands, a trend we believe will continue in the days ahead as the US economy improves,” Rubel stated.
Meanwhile, apparel exports surged by 16.45 percent during the first seven months of FY25,with the shipment growing by 13.91 percent in the EU market.
During January-February, RMG shipment to America rose to $4.47 billion.
The surge comes as some orders have been diverted from China amid ongoing trade tensions between the US and China.
Industry experts credit this growth to economic recovery in major markets, leading to higher consumer demand for apparel.
Another key factor is the US-China trade war, which has led buyers to shift orders away from China, boosting Bangladesh’s export figures, they added.