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Friday, February 23, 2024

Bangladesh apparel exports to the US slipped 24.75% between Jan & Oct

Between January and October, Bangladesh apparel exports to the US reached US $6.35 billion, slipping 24.75 percent year on year, data from the US Department of Commerce’s Office of Textiles and Apparel (OTEXA) said.

Bangladeshi garment overseas shipments to the US in the first ten months of 2023 dropped higher volume-wise, at 29.51 percent from a year ago period to 1.95 billion square meters.

In October alone, Bangladesh clothing exports to the US declined by a significant 36.50 percent year on year to $578.35 million

Bangladesh was the third biggest exporter of garments to the US, with a share of 9.54 percent in the first ten months of 2023, while China was first at 20.71 percent and Vietnam second at 18.01 percent.

Overall, US clothing imports from across the world declined 22.71 percent to $67.26 billion between January and October 2023, compared to $87.03 billion in the same months of the previous year.

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