As of December 2024, Bangladesh's share of the U.S. apparel market has fallen by 3.33% year-on-year during the January-October period. This decline comes at a time when competitors like India and Vietnam have seen growth in their apparel exports, with India increasing by 2.68% and Vietnam by 3.93% in the same timeframe [cbb73b4f].
Despite this setback in the U.S. market, Bangladesh's overall exports have shown resilience, growing by 11.76% from July to November in the fiscal year 2024-25, totaling $19.9 billion. Notably, ready-made garments (RMG) constituted 80.97% of these exports, with RMG exports reaching $47 billion in FY2022-2023, up from $42.6 billion [cbb73b4f].
From July 2023 to May 2024, RMG exports increased by 2.86%, amounting to $43.85 billion. In contrast, China's apparel export share in the U.S. market also saw a decrease of 1.06%, indicating a shifting landscape in global apparel trade [cbb73b4f].
As Vietnam emerges as a rising competitor in the global market, Bangladesh's apparel industry faces the challenge of maintaining its market share while adapting to the evolving dynamics of international trade. Industry leaders are now focusing on strategies to enhance competitiveness and explore new markets to counteract the declining share in the U.S. [cbb73b4f].