Bangladesh’s apparel exports to the US grew marginally by 0.75% in 2024, reaching $7.34 billion, up from $7.28 billion in 2023. This is a significant decline from the record $9.73 billion in 2022. In volume, exports increased by 4.89% to 2.37 billion square meters. However, Bangladesh’s share in the US apparel market fell to 9.26% in 2024, compared to 9.7% in 2022.
Meanwhile, competitors like Cambodia, Pakistan, Vietnam, and India saw notable export growth in 2024, with India emerging as a major challenge by offering lower-priced garments with its own raw materials. India’s apparel exports to the US rose to $4.69 billion, with shipments increasing by 13.1% in quantity.
A US Fashion Industry Association study highlights that US buyers are diversifying their sourcing, favoring India for its vertical integration, manufacturing flexibility, and supply chain stability. Factors like Bangladesh’s political instability, labor unrest, and reliance on imported raw materials are making it less competitive.
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