It is important to note that Bangladesh experienced political turmoil in August 2024 when Sheikh Hasina’s government was overthrown following violent student protests. The regime change led to serious lawlessness and disruptions in business activities. However, trade data reveals that the momentum in US apparel imports from the country remained intact in the subsequent quarter.
US imported apparel worth $1.518 billion from Bangladesh during October-December 2023. The trade saw an impressive growth of 27.7 per cent in the quarter. Annually, US apparel imports rose to $7.404 billion in 2024, compared to $7.248 billion in 2023, according to Fibre2Fashion's market insight tool TexPro.
US imports from Bangladesh were slightly lower in the fourth quarter of 2024 compared to the third quarter of the same year. Imports stood at $2.053 billion in Q3 2024. However, the decline in the fourth quarter compared to the third quarter was more significant in 2023, as trade dropped to $1.518 billion in Q4 from $1.971 billion in Q3.
US imported apparel worth $1.656 billion in the second quarter and $1.754 billion in the first quarter of 2024. In 2023, trade was recorded at $1.672 billion in the second quarter and $2.085 billion in the first quarter, as per TexPro.
In 2024, the US imported 164.112 million dozen of garments, 2.716 million dozen pairs, and 111,735 individual garments at an average unit price of $45, $5.96, and $25.77, respectively. Garment quantities are recorded in different ways depending on size and value. In 2023, imports in quantity were 147.334 million dozen, 2.953 million dozen pairs, and 213,129 individual garments. The average import price per unit was $49, $7.48, and $31.59, respectively.
ALCHEMPro News Desk (KUL)
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