According to OTEXA, the USA imported a total of 9.74 billion dollars’ worth of apparel from Bangladesh in 2022. With around 10% market share, Bangladesh remains the third biggest apparel importing country for the USA. USA’s import from Bangladesh has grown by 36.38% whereas their global import grew by 22.48% in the above-mentioned year in comparison with 2021.
China, being the top apparel import destination for the USA, has posted a 10.38% year-over-year growth in 2022, whereas almost 21.73 billion USD worth of apparel has been exported by this country to the USA. The second country in this list, Vietnam also experienced a positive growth of 26.97%, exporting around 18.24 billion USD worth of apparel to the USA. The other countries which experienced positive growth during this time are India, Indonesia, Cambodia and Korea; which we experienced 35.50%, 35.29%, 28.46% and 25.08% respectively.
Despite being the third import destination, Bangladesh has posted the highest growth rate among all the manufacturing countries, which is 36.38% higher than the previous year. There is no doubt that we are doing great in the US market, which is also proven by the fact that Bangladesh has already snatched away the top position in denim export to the USA. However, there is no scope to be complacent as it’s clearly visible that the high growth rate has mainly been generated in the first ten months of the year. Due to a slowdown in the US retail market, their global import has already reduced and just after experiencing a positive trend for ten months, Bangladesh’s export to USA has been down in the remaining two months of November and December, with -9.84% and -12.94% respectively.
