Following mass immunizations, the Covid-19 situation in the United States has stabilised. Several limitations have been lifted. People have also upped their buying. As a result, readymade garment exports to the United States have increased from a variety of countries.
More than 12,000 new cases of coronavirus have been reported in the United States, with 300 to 400 deaths per day.
In the first four months of 2020, buyers and brands in the United States imported garment products worth $21.26 billion (2,126 crore) from various nations. In the same period of 2021, imports increased by 8% to $23.07 billion (2,307 crore).
In the first four months of 2020, buyers and brands in the United States imported garment products worth $21.26 billion (2,126 crore) from various nations. In the same period of 2021, imports increased by 8% to $23.07 billion (2,307 crore).
During this time, exports from China and Vietnam surged, but Bangladesh was unable to take advantage of the circumstances. Its exports, on the other hand, have decreased.
The newest statistics were given by the US Department of Commerce’s Office of Textiles and Apparel (OTEXA). In 2020, garment imports in the United States fell by 23.43 percent to $64.07 billion (6,407 crore).
Bangladesh exported garment products worth $2 billion (199.79 crore) or Tk 169.82 billion (16,982 crore) to the United States in the first four months of 2021, according to OTEXA, a 3.71 percent decrease from the same time the previous year.
After China and Vietnam, Bangladesh is the third largest garment exporter to the United States.
China’s exports to the United States, on the other hand, increased dramatically. In January-April 2021, its ready-made clothing exports increased by 19.86 percent year on year to $4.66 billion (466 crore). In contrast, Vietnam exported garments worth $4.55 billion (455 crore) to the United States in January-April 2021, an increase of 8.91 percent over the $4.18 billion (418 crore) earned in the same period of the previous year.
Vietnam owns 19.65% of the ready-to-wear garment market in the United States, whereas Bangladesh owns only 7.82 percent. India and Indonesia, like Bangladesh, have seen a fall in ready-made garment exports, according to the OTEXA. In the first four months of 2021, India’s garment exports to the United States fell 1.10 percent year on year to $1.34 billion (134 crore). India is the world’s fourth largest exporter of apparels to the US.
In January-April 2021, Bangladesh exported garments worth $1.27 billion (127 crore) to the United States. That year, Indonesia’s garment exports to the United States hit a seven-year high of $5.93 billion (593 crore).
