Bangladesh has maintained a positive trend in garment exports to the US market over the past decade. During this time, while exports from competing countries to the US declined, Bangladesh's exports increased. According to data from the Office of Textiles and Apparel (OTEXA) of the US government, total garment imports by the US from various countries decreased by 5.30% over the past decade. In contrast, imports from Bangladesh rose by 26.62% during the same period.
The per-unit price of garments in the US market declined by 1.71% during this time, whereas the per-unit price of garments imported from Bangladesh increased by 7.30%.
OTEXA reports that from 2015 to 2024, total garment imports by the US from around the world decreased by 5.30%. In that same period, imports from Bangladesh increased by 26.62%. Meanwhile, Bangladesh’s competitor countries saw a decline: China’s exports dropped by 18.36%, Indonesia’s by 19.82%, and South Korea’s by 45.03%. On the other hand, Vietnam’s exports grew by 32.96% and India’s by 34.13%.
In terms of unit prices, global averages fell by 1.71% over the decade. China and India saw declines of 33.80% and 4.56%, while Vietnam and Indonesia recorded gains of 6.64% and 7.38%. Cambodia posted the highest increase at 38.31%. Bangladesh also achieved a 7.30% increase.
Industry insiders noted that although Vietnam's export volume in 2024 was less than half of China's, the total export value of both countries was nearly the same. This is due to Vietnam focusing on exporting higher-priced garments.
Md Mohiuddin Rubel, former director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), told Bangladesh Pratidin that while Bangladesh's export volume to the US is satisfactory compared to total global imports, the country is lagging behind in terms of per-unit export value.
He pointed out that competitors like Vietnam and India are performing better by exporting higher-priced garments.
Rubel emphasized that by focusing on high-value apparel, Bangladesh could significantly boost its export earnings without increasing volume. He stressed the importance of moving away from low-cost products and prioritizing higher-end items.
Bd-pratidin English/ ANI
