The volatile US economy and the recent presidential elections have reportedly led to decline in Bangladesh’s apparel exports to the country. During the year 2016, Bangladesh exported goods worth US $ 5.92 billion down (1.96 per cent) from US $ 6 billion a year ago, according to data from the US Department of Commerce.
Apparel goods account for 95 per cent of the goods exported from Bangladesh to the US market. As per exporters, US consumers have changed their choice and opted to spend more on electronic gadgets over apparel items.
It is pertinent to note that exports not only from Bangladesh, but from other apparel exporting nations (9 out of 10) also felt the heat. Global apparel exports to the US declined 6.44 per cent year-on-year to US $ 104.72 billion in 2016. Vietnam considered as one of the major competitors of Bangladesh, however noted an increase of 0.30 per cent in apparel exports to the US.