Bangladesh’s readymade garment exports to the United States grew by 9.29 percent during the first nine months of 2019 compared to the same period last year.
Bangladesh’s RMG exports to the US in January-September of this year grew by 9.96 per cent while the export growth to the market was 14.49 per cent in the first half (January-June) and 16.12 per cent in the first quarter (January-March).
The country fetched $4.72 billion from apparel exports to the US market in the January to September period of this year against $ 4.32 billion earnings of the corresponding period of last year, according to data from Office of Textiles and Apparel (OTEXA) affiliated with the US Department of Commerce.
The data showed that Vietnam’s export growth to the US in the first nine months of this year remained steady while Cambodia and Turkey witnessed a sharp increase in the growth in the period.
Bangladesh’s earnings from RMG exports to the US in January-September of this year grew to $4.56 billion from $4.15 billion in the same period of last year.
‘Still we have some growth in the US market but some of our competing countries are growing fast in the market that means we are getting very little and our competing countries are getting more benefits from order shifting from China due to the US-China trade war,’ Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said. Despite having the impact of global showdown, Vietnam and Turkey are doing good in the US market in exporting apparel products, he said.
However, according to EPB data, the overall picture for Bangladesh in July-September was 1.64 percent negative growth.
Exporters note that they have been struggling for the last four months due to a lack of orders. They fear that such a situation may lead to a fall in export earnings in the coming days.
During the period January-September, Bangladesh shipped 1.82 billion square meters of apparel. The figure was slightly lower, 1.81 million, in the first three quarters of the last calendar year, as noted in the latest update by OTEXA.
Although the US import of apparel products from China remained still high, the import in the first nine months of 2019 posted a 1.10-per cent negative growth with $20.10 billion against $20.32 billion in the same period in last year.
Vietnam’s RMG export to the US in January-September of 2019 grew by 12.70 per cent to $10.35 billion from $9.19 billion in the same period of 2018.
Among the competing countries, Vietnam registered the highest growth in apparel export to the US in the first nine months of this year, the OTEXA data showed.
Earlier, Bangladesh achieved 14.49 per cent growth in RMG export to the US in January-June and it was the highest growth among the competing countries.
Apparel exports of Cambodia to the US in first nine months in 2019 grew by 11.13 per cent to $2.02 billion from $1.82 billion in the same period of last year.
Cambodia’s RMG export growth to the US was 8.30 per cent in the January-June period and 5.96 was in the first quarter of this year.
The US apparel import from India in January-September of 2019 grew by 8.37 per cent to $323 billion from $2.98 billion in the same period of 2018. Apparel export of Turkey to the US in January-September in 2019 grew by 9.17 per cent to $470.11 million from $430.62 million in the same period of last year.
Turkey’s export to the US continued to increase in the nine months of this year and the export growth was 6.09 per cent in the first half of the year and it was 5.61 per cent in the first quarter, the data showed.