A slight drop of apparel export growth of Bangladesh to US market

sfd_1Growth in Bangladesh’s apparel export to the United States dropped below 1.0 per cent during the first eight months of the current calendar year over the corresponding period of 2015. According to sources, sluggish economic recovery in the country’s single-largest shipment destination-the US market-is largely to blame for the slowdown in the export growth. A growing competition by other exporters, particularly Vietnam for the market share and denial of dutyfree and quota-free access for Bangladeshi apparels are also seen as deterrents.
The country’s exports grew by 0.85 per cent to $3.71 billion while that of Vietnam recorded a growth of 3.04 per cent to $ 7.25 billion during January-August period of 2016. By the data of Office of Textiles and Apparel (OTEXA), the trade scenario became clear and became a source of concern of the US Department of Commerce.