China remains the top apparel exporter to the US market. In 11 months of last year, China’s textile exports declined by 25.85 percent to $15.22 billion. Vietnam, the second top exporter, exported textiles worth $13.18 billion, a decline of 22.68 percent. Bangladesh is the third top exporter in this market, with a market share of 9.47 percent. China and Vietnam have 21 and 18 percent stake respectively.
According to OTEXA data, Bangladesh’s textile exports to the US market have increased by 2.33 percent over a 10-year period. Exports in 2012 were US$4.18 billion. The following year it saw an increase of US$4.65 billion.
Following the collapse of the Rana Plaza in Savar in April that year, apparel exports to the United States declined. The situation began to change with the onset of the US trade war with China, causing many US buyers to turn to Bangladesh with increased purchase orders to reduce their dependence on China and avoid high tariffs. Clothing exports to the US market will increase to $9.72 billion in 2022.
Apparel exports for the financial year 2022-23 stood at US$ 46.99 billion. Of this, 18.12 percent or US$8.52 billion worth of textiles were destined for the United States. However, exports subsequently declined by 5.5 percent. Apparel exports worth US$ 18.83 billion were exported in the first five months of the current financial year 2023-24 (July-November), of which 17.40 per cent went to the United States.