Despite the pressure of reciprocal ¬tariffs, Bangladesh has emerged this year as the top exporter of T-shirts to the US market. For the first time, Bangladesh has overtaken leading T-shirt exporters such as Nicaragua, Honduras and China to claim the top position.
According to the United States International Trade Commission, in the first six months of the current year, the US imported T-shirts worth a total of USD 3.52 billion from 117 countries. Of this, T-shirts worth USD 373.2 million came from Bangladesh. In the same period, Nicaragua, last year’s top exporter, shipped T-shirts worth USD 361.2 million.
Bangladesh had never before been the leading exporter of T-shirts to the US market. For 36 years (1989–2024), the market had been dominated by T-shirts from Honduras, Nicaragua, Hong Kong, Jamaica, Mexico and China. Except for China and Hong Kong, most of these top-ranking countries had enjoyed tariff benefits due to trade agreements with the US. But this changed at the start of the year.
On 2 April, the Trump administration imposed an additional minimum 10 per cent tariff on imports from all countries. This meant that Nicaragua and Honduras, despite their previous tariff advantages, also had to pay at least the minimum tariff on T-shirts. Managing to tackle this first wave of tariff pressure, Bangladesh's T-shirts have risen to first place in the US market.
Meanwhile, from 7 August, Trump’s reciprocal tariffs at varying rates for different countries came into effect. The impact of these tariffs is not yet known. However, exporters believe that even after the implementation of the reciprocal tariffs, Bangladesh remains in a favorable position compared to its competitors. They point out that the retaliatory tariff on Bangladeshi products is 20 per cent, the same as Vietnam’s.
In contrast, India’s tariff rate is 50 per cent and China’s is 30 per cent, making Bangladesh’s rate lower than both. Nicaragua, a competitor in the T-shirt market, now has to pay an 18 per cent retaliatory tariff as well. This means that, having lost its duty-free advantage, Nicaragua must now compete to export to the US.
Asked whether Bangladesh would be able to hold on to the top spot in T-shirt exports, Mahmud Hasan Khan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), told Prothom Alo: “It is good news for us that in the first six months of the year, Bangladesh has risen to the top in T-shirt exports to the US market. However, after the reciprocal tariffs came into force on 7 August, there is a risk that this position could change. While Bangladesh’s standing is relatively good compared to competing countries, if consumer demand in the US falls, our exports could be negatively affected.”
The US is Bangladesh’s single largest export market. According to the National Board of Revenue (NBR), the country exported goods worth USD 8.76 billion to the US in the 2024–25 fiscal. Bangladesh ships a wide variety of apparel items to this market, including T-shirts.
Competitive pricing
There are two types of T-shirts depending on the fabric: cotton T-shirts and those made from synthetic fibre. Typically, synthetic fibre T-shirts are more expensive. Prices also vary depending on quality. Even so, data from the United States International Trade Commission offers an idea of the average export price per T-shirt by country.
According to this data, in the first six months of the current year, each T-shirt exported from Bangladesh fetched an average of USD 1.76. In the same period, Nicaragua, last year’s leader, exported each T-shirt at USD 1.65. This means Bangladesh has taken the lead by exporting T-shirts at a higher average price than Nicaragua. From Honduras, the average was USD 2.10 per T-shirt; from Vietnam, USD 2.68; from India, USD 1.81; from China, USD 1.63; and from Pakistan, USD 1.50.
Based on these average prices, Bangladesh’s per-piece export price is higher than that of China, Nicaragua, and Pakistan, but lower than those of competitors such as Vietnam, Honduras, and India.
Global exports and Bangladesh’s position
According to the United States International Trade Commission, last year the global T-shirt export market was worth USD 56.82 billion, covering shipments from one country to another. Bangladesh ranks just after China in global T-shirt exports. Among all categories of apparel Bangladesh exported worldwide last year, T-shirts topped the list.
According to the National Board of Revenue (NBR), in the last fiscal year Bangladesh exported T-shirts worth USD 7.45 billion to 158 countries. After Germany and Spain, the United States was the third-largest export destination.
Beyond the US, Bangladesh also leads its competitors in T-shirt exports to many countries, including Germany, Spain, France, the United Kingdom, Poland, Italy, Denmark, Canada — and even neighboring India. Now, based on figures from the past six months, the US has joined this list.
Top T-shirt export destinations
Germany is the largest single destination for Bangladesh’s T-shirts. In the 2024–25 fiscal, Bangladesh exported T-shirts worth USD 1.05 billion there. Spain ranked second, importing T-shirts worth USD 890 million, while the United States ranked third with imports worth USD 850 million. In the last fiscal year, Bangladeshi exporters shipped T-shirts to 158 countries, with the US accounting for about 11 percent of total exports.
According to NBR data, 811 factories and companies exported T-shirts to the US in the last fiscal year. The largest exporter was GAB Limited of Savar, which shipped USD 155 million worth of T-shirts to the US. In second place was another Savar-based company, SDS International, with exports worth USD 71.8 million. Ayesha Clothing Co. ranked third, exporting USD 46.7 million worth of T-shirts.
Other companies in the top ten were: Knit Asia Ltd. of Savar (USD 37.5 million), Divine Intimates of Chattogram (USD 16.2 million), Ratul Apparels of Gazipur (USD 13.4 million), Taqwa Fabrics (USD 12.5 million) and JM Fabrics (USD 10.1 million), Impress-Newtex Composite Textiles of Tangail (USD 9.4 million), and York Fashion of Chandpur (USD 9.1 million).
Bangladesh has emerged this year as the top exporter of T-shirts to the US market, overtaking Nicaragua, Honduras and China to claim the top position
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Bangladesh Shipping Corporation (BSC), the state-owned oceangoing vessel management authority, has selected a US-based company, Hellenic Dry Bulk Ventures LLC, to purchase two bulk carriers for $76.698 million, equivalent to Tk935 crore.
The Cabinet Committee on Government Purchase approved the procurement proposal on Tuesday (12 August).
In a strategic move to expand its presence in the shipping industry and grow its fleet, BSC will invest its own funds to procure the vessels – each having a capacity of carrying 55,000-66,000 DWT – for the first time in its history.
Previously, the corporation acquired ships through government funding.
The ships are expected to be delivered by November this year, with the first handover in September and the second by November, according to company officials.
Marking a significant milestone, Commodore Mahmudul Malek, managing director of BSC, told TBS, "As the purchase committee approved the acquisition of bulk-carriers, now we will sign an agreement with bidder Hellenic Dry Bulk Ventures."
"If these two ships, equipped with modern technical features and environmentally friendly technology, are added to the fleet, Shipping Corporation's own transportation capacity will increase by approximately 1,20,000 DWT, which will be a significant addition to the country's maritime trade, he added.
A total of eight institutions purchased the tender documents, and three bidders submitted their tenders within the specified deadline from 4 June to 16 July.
He said the technical aspects of the ships proposed in the bids were thoroughly examined, and the evaluation committee conducted on-site inspections to observe the construction status of the two ships. The ship specifications were prepared, and expert services from representatives of Classification Society(s) were taken for the technical evaluation of the ships.
"Ultimately, after technical and financial evaluation, Hellenic Dry Bulk Ventures LLC's proposed price per ship was $38.349 million, with a total combined recommended price of $76.698 million for the two ships, which is 4.60% lower than the official estimated price of $80.40 million, said a press release of BSC.
Mahmudul Malek said, "We floated a tender to acquire ships that are currently under construction. A technical and evaluation committee has visited the ships in China, which are about 90% complete, with the remainder expected within the stipulated timeframe. Brigadier General (retd) M Sakhawat Hossain, advisor to the Ministry of Shipping, will also visit the ships soon."
Purchase of three more ships planned
The shipping corporation is preparing for its most ambitious fleet expansion in decades, with three new vessels to be added under a fresh government-backed procurement plan.
This comes alongside the state-owned company's ongoing acquisition of two bulk carriers under its own financing — a combined move that could see the fleet reach 10 ships by the first half of 2026.
The decision follows a remarkable financial turnaround for BSC, which not only posted the highest annual profit in its 53-year history last year but also maintained strong earnings momentum into the current fiscal year.
Officials say the expansion reflects both renewed confidence in BSC's management and the government's strategic push to strengthen the country's maritime logistics capacity.
Record profits driving expansion
The fleet growth plan comes on the back of unprecedented earnings. In FY2023–24, BSC posted a record profit of Tk249.69 crore, the highest since its establishment in 1972.
This performance was driven largely by favourable freight rates in the global shipping market and improved operational efficiency.
The strong run has continued in FY2024–25. In the first nine months of the fiscal year, its profits rose by 30% year-on-year to Tk219.33 crore, while revenues climbed 24% to Tk429 crore.
BSC's resurgence is all the more notable given its troubled history. Established on 5 February 1972, the corporation began commercial operations just four months later with the MV Banglar Doot. Over the years, its fleet expanded to 44 vessels, with 25 operating simultaneously at its peak.
However, decades of mismanagement, operational inefficiency, and mounting financial losses gradually eroded its capacity. By 2018, after selling off ageing and unfit ships, the fleet had shrunk to just two vessels.
A revival effort began in 2018–19, when BSC acquired six modern vessels with Chinese government financing worth around Tk1,500 crore.
This brought the fleet to eight ships. But the comeback was short-lived. In March 2022, the MV Banglar Samriddhi was abandoned after a Russian missile strike at Ukraine's Olvia port during the war.
Then in October 2023, two ageing oil tankers — MT Banglar Sourav and MT Banglar Jyoti — were severely damaged in separate fires and scrapped for Tk55 crore.
These incidents cut the fleet to just five vessels, raising questions about BSC's ability to maintain operational stability.
Cabinet committee on govt purchase approved the procurement proposal
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