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Apparel exports to US, changing dynamics

Bangladesh’s readymade garment exports to the US in 2015 rose by 11.74 per cent compared to the previous year. But in the first two months of this year they grew by 8.46 per cent compared to the same period last year.

However Bangladesh’s export earnings from the US declined slightly in February compared with that in the previous month.

If Vietnam gets zero tariff facility to the US market under the Trans-Pacific Partnership it would pose a severe challenge to Bangladesh. The country would have to enhance its productivity and skills to remain competitive. It would have to go in for upgradation and product diversification.

Exports of Vietnam to the US market grew by 22.73 per cent in the first two months of this year while readymade garment exports showed a 23 per cent growth. Earnings in January showed a 11.31 per cent growth while earnings in February posted a single-digit growth.

Apparel exports of China to the US market in the first two months of this year grew by 8.92 per cent compared to the same period last year.

India’s apparel export to the US market in the first two months of 2016 grew by 9.49 per cent compared to the same period last year.

 
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