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Bangladesh garment exports to the US slows down in first half

Affected by sluggish economic recovery in the country's single-largest destination for overseas sales, exports from Bangladesh to the United States saw the momentum slowing down in the first half of the calendar year compared to the year-earlier, reveals a new study. The study, conducted by the United States Fashion Industry Association (USFIA), also revealed that the US-based fashion companies are more cautious about sourcing goods from Bangladesh.

Bangladesh roped in $2.84 billion from the US marking a 1.33 per cent growth in the January to June period this year compared to the corresponding period last year, the data from Office of Textiles and Apparel (OTEXA) affiliated with the US Department of Commerce indicated. Export earnings grew by 4.14 per cent during the first quarter of 2016, the data revealed. Out of the total receipts, the readymade garment (RMG) fetched $2.72 billion in the same period.

On the other hand, Chinese apparel exports witnessed negative growth of 5.20 per cent to $ 11.95 billion in the first half of this year. Meanwhile, garment exports from Vietnam grew by 3.24 per cent to $5.10 billion and India's slight 0.86 per cent to $2.02 billion during the same period.

The study on "2016 Fashion Industry Benchmarking Study," jointly conducted by USFIA and the University of Delaware, was launched in June last. It surveyed 30 executives from the US based fashion companies between March 2016 and April 2016.

 
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