In a significant development for its textile industry, Bangladesh recorded a remarkable 41.6 per cent increase in apparel exports to the United States in November 2024 compared to the same month in the previous year. This growth was confirmed by the Office of Textiles and Apparel (OTEXA) under the US Department of Commerce.
Despite facing challenges earlier in the year, where exports dipped by 36.7 per cent in January and 14.2 per cent in March, the latter part of 2024 saw a resurgence. Bangladesh exported apparel worth US $ 613.91 million in November, a notable increase from US $ 433.56 million during the same period in 2023. November’s growth marked the highest monthly increase for the year, although total exports from January to November 2024 were still 0.44 per cent lower than the same timeframe in 2023, with revenues dropping slightly from US $ 6.79 billion to US $ 6.76 billion.
The last quarter of 2024 demonstrated a positive trend, with export growth climbing to 18.4 per cent in September and 26.7 per cent in October. Nevertheless, Bangladesh’s apparel sector continues to face stiff competition from India and Vietnam, which also reported increases in their exports to the US. India’s apparel exports grew by 4.49 per cent, while Vietnam’s jumped by 4.48 per cent, with the latter earning US $ 13.77 billion from January to November, up from US $ 13.18 billion the previous year.
In contrast, China’s apparel exports to the United States saw a slight decline of 0.30 per cent during the same period. Overall, US apparel imports in the first 11 months of last year totaled US $ 72.94 billion, reflecting a modest increase of 0.63 per cent compared to the previous year.
