The country’s overall exports to the US during January-August period of 2017 increased in terms of volume, though shipment kept declining in terms of value, according to data. Bangladesh exported 1.58 billion square metres (SME) of goods including apparels during the first eight months of 2017, marking a 1.77 per cent growth over 1.55 billion square metres in the corresponding period of 2016, according to the Office of Textiles and Apparel (OTEXA) under the US Department of Commerce data. On the other hand, the country’s merchandise exports income from the market declined by 5.07 per cent to $3.66 billion over the period, which was $3.85 billion in January-August of 2016. The country fetched $3.50 billion from exporting 1.28 billion square metres of apparel product during the period marking a 5.64 per cent negative growth. During the January to August period of 2016, Bangladesh shipped 1.29 billion square metres of apparel products, according to OTEXA data. Apparel exporters attributed the declining trend in apparel exports to the American market to the appreciation of local currency against the US dollar, rise in production cost, ongoing safety programmes and longer shipping time. Non-apparel items, however, increased both in terms of value and volume during the period, the data revealed. Export earnings from non-apparel items increased by 9.75 per cent to $156.49 million during the first eight month of 2017 calendar year. In terms of square metres, exports of non-apparel items grew by 15.83 per cent to $301.96 million, which was $260.96 million in the corresponding period of 2016, the data showed. Vietnam shipped 2.44 billion square metres of apparel items worth $7.67 billion to the US during the first eight months of current calendar year. Vietnam’s exports grew by 5.64 per cent and 9.21 per cent in terms of value and volume to US, the OTEXA data revealed. The US apparel imports from China declined by 4.66 per cent to $17.46 billion during the same period, though it witnessed an upward trend by 1.80 per cent in quantity. China exported 7.32 billion square metres of apparel products to the US during the period. Indian apparel exports to the US increased both in terms of value and volume by 0.94 per cent and 2.69 per cent respectively, according to data. Mohammed Nasir, vice president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said in the last four years taka has appreciated by 7.66 per cent while currencies in India, Vietnam and China depreciated by 40 per cent, 4.91 and 4.95 per cent respectively.
