Apparel export to US falls 4.22pc
Bangladesh's garment export to the US fell in the 10 months into October this year with higher shipments from competing countries such as China, India and Vietnam.
The country's apparel shipment to its single largest export destination declined 4.22 percent year-on-year to $4.54 billion, according to data from the US Department of Commerce.
Indonesia, South Korea and China also experienced a fall to the US market.
China, the global leader in apparel exports, shipped $32.89 billion worth of garments to the US, down 0.58 percent year-on-year, according to the data.
Indonesia's export fell 2.85 percent to $4.09 billion and South Korea's 3.71 percent to $733 million.
On the other hand, India sent $6.36 billion worth of garments to the US, up 3.44 percent year-on-year. Vietnam's exports rose 7.07 percent to $10.36 billion, Pakistan's 1.74 percent to $2.31 billion and Mexico's 7.64 percent to $3.99 billion.
In the 10-month period, the overall export to the US from Bangladesh also fell, by 4.09 percent year-on-year to $4.87 billion.
Considering the garment export growth to the US, Bangladesh now stands at sixth behind China, Vietnam, India, Pakistan and Mexico whereas the country's used to be ranked third to fourth in 2016.
However, imports from the US to Bangladesh have been rising in the recent months on the back of capital machinery imports for the garment sector.
Bangladesh imported goods worth $1.31 billion from January to October, which was $905.7 million in the full year of 2016, according to the data.