Bangladesh has achieved the highest growth in readymade garment (RMG) export revenue to the United States, recording a 29.33% increase in the first four months of the current year.
According to updated data from the Office of Textiles and Apparel (OTEXA) under the US Department of Commerce, the United States imported $26.218 billion worth of readymade garments from January to April of this year. This represents an increase of approximately 10.65% compared to the same period last year.
In terms of export earnings up to April, Vietnam has surpassed China to become the top apparel exporter to the US market. The US imported $4.3576 billion worth of garments from China, showing a marginal year-on-year increase of 0.66%.
Meanwhile, garment exports from Vietnam, a Southeast Asian country, to the US market totaled $5.0891 billion, marking a 16.06% increase year-on-year.
While Bangladesh lags behind in terms of overall market share in the US, it leads significantly in revenue growth. Bangladeshi garment export earnings to the US market grew by 29.33% year-on-year, which is nearly double that of top exporter Vietnam.
In the first four months of the current year, Bangladesh exported $2.9831 billion worth of garments to the United States. Following Bangladesh, India recorded the second-highest growth at 20.30%. Indonesia`s earnings increased by 15.60% to reach $1.6011 billion.
During this period, Pakistan`s garment export earnings to the US market rose by 19.79%, with exports totaling $1.2309 billion in the four months up to April. Additionally, Cambodia`s export earnings increased by 19.57% to reach $749.5 million.