Apparel exports to America decline due to decline in demandReady-made garment exports to the United States, Bangladesh’s single-largest export market, declined by 23.33 percent year on year to $5.77 bn in the first nine months of 2023, US data show. Apparel manufacturers attributed the decline to demand fall for a combination of factors that include high inflation, the war in Ukraine and an economic slowdown in developed markets.
In terms of volume, the apparel exports to the US market also registered a 29.37-percent year-on-year fall in the three quarters (January-September) of the calendar year, according to the US Department of Commerce’s Office of Textile and Apparel (OTEXA) data released recently. The data show Bangladesh’s key competitors China and Vietnam also registered negative export growth to the US market in the period — altogether reflecting a dampened Western fashion appetite.