With the export volume of 5.7 billion USD, now Bangladesh ranked third highest exporter to the US market in first 10 months of 2021. As many US buyers are shifting their orders from other country like Indonesia, China and Vietnam to Bangladesh, it sees a tremendous growth based on the data of first 10 months of 2021. According to Office of Textile and Apparel (OTEXA), Bangladesh sees 27% up from the previous year 2020 on the same time period, a year back.
On the other hand, China traded around 16 billion USD with a 25% growth whereas Vietnam and Indonesia has 14% and 10% respectively.
As the experts says, China would be losing their shares of export from the US market and it will reach almost half of its export volume that they have today, due to many factors like, labor costs, lacking of energy flow etc. and these orders are tends to shift in countries like Bangladesh, Vietnam, Cambodian, Indonesia etc.
Export to the US market in terms of volume, the top six garment supplier are India, Mexico Honduras, Cambodia, Pakistan and Korea. In first 10 months of 2021, these countries enjoyed higher export growth than Bangladesh though their volume of export were lower than Bangladesh.