Over the past five years, the surge in garment shipments from Bangladesh to the USA, the country’s primary export destination, nearly doubled, driven by the tariff conflict between the United States and China and the competitive pricing of locally manufactured apparel.
However, despite strong performances in 2021 and 2022, apparel exports to the USA witnessed an 8.68% year-on-year decline in 2023, totaling $8.27 billion. In 2018, Bangladeshi garment exports to the USA were $5.84 billion, rising to over $9 billion in 2022.
The setback in 2023 was primarily attributed to a decrease in woven garment shipments, while knitwear exports saw a slight increase. Additionally, readymade garment exports to the European Union (EU) experienced a notable deceleration in 2023, with modest year-on-year growth of 1.49%, down from the 28.49% recorded in 2022.
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