Bangladesh's share in US garment imports rising steadily

According to Fibre2Fashion’s market insight tool TexPro, US apparel imports totalled $63.611 billion during January-September 2023. Its import from Bangladesh were valued at $5.735 billion which was 9.02 per cent of the total. It was, however, 24.85 per cent lower than the imports of $7.632 billion during the same period of 2022.

US’ apparel imports were valued at $105.220 billion in the year 2022 when its imports from Bangladesh was $9.809 billion. Therefore, the south Asian nation gained a market share of 9.32 per cent. Bangladesh steadily retained a position of third largest supplier after China and Vietnam during 2017 to 2022.

Earlier, US’ apparel import from Bangladesh was $7.282 billion in 2021 which was 8.36 per cent of the total import of $71.034 billion. The inbound shipment from the nation was $5.279 billion in 2020, $5.914 billion in 2019, $5.425 billion in 2018 and $5.061 billion in 2017. The data shows that apparel imports from Bangladesh increased to over $9 billion in 2022 from $5.061 billion of 2017, as per TexPro.

It is also important to note that the country also succeeded to increase its penetration in the US market. The share of supplies from Bangladesh was 6.06 per cent in US total apparel import of $83.534 billion in 2017. The share jumped to 9.32 per cent in 2022 out of total apparel imports of $105.220 billion in 2022.

ALCHEMPro News Desk (KUL)