According to the US Department of Commerce data, in the first quarter of 2015, the apparel exports to the US by Vietnam and India grew by 12.11 per cent and 9.36 per cent compared to the same period of last year while exports from Bangladesh grew by 6.25 per cent to US $ 1.39 billion. China’s exports to the US also increased by 4.93 per cent to US $ 6.47 billion during the January-March period of 2015. In the same period, Vietnam’s apparel exports to the US market stood at US $ 2.43 billion from US $ 2.17 billion in the same period last year. India fetched US $ 1.03 billion during the period which was US $ 944 million last year.
India and Vietnam are grabbing the orders shifted from China as they are more competitive than Bangladesh because Bangladeshi currency is appreciating against US dollar while those of Vietnam and India are depreciating, making imports from Bangladesh costlier. Vietnam’s exports to the US increased from US $ 8.12 billion in 2013 to US $ 9.26 billion in 2014. India exported apparel products worth US $ 3.40 billion last year which was US $ 3.21 billion in 2013.
