Bangladesh’s apparel exports to the United States grow rapidly
According to Bangladesh’s “Business Standard” report on December 11, U.S. Department of Commerce data showed that Bangladesh’s apparel exports to the United States in the first 10 months of 2022 were US$8.46 billion, a year-on-year increase of 4.86 billion US dollars. %. Bangladesh’s apparel exports to the United States are expected to reach US$10 billion in 2022. Bangladesh’s apparel exports to the United States were 2.76 billion square meters, a year-on-year increase of 31.39%.
The main reasons for the growth of Bangladesh’s clothing exports to the United States are: first, the United States’ “apparel diplomacy” towards Bangladesh. The United States reduced its imports of Chinese clothing, and Bangladesh received more goods from China. Transfer orders from China, Sri Lanka, and Myanmar; secondly, safety production standards in Bangladesh are constantly improving; thirdly, demand in the United States is growing and clothing prices are rising.
U.S. Department of Commerce data shows that U.S. apparel imports from January to October 2022 were US$87.05 billion, a year-on-year increase of 30.16%. Among the top five purchasing destinations for American apparel, China was US$19.33 billion, a year-on-year increase of 20.76%, but its share dropped slightly to 22.19%; Vietnam was US$16.04 billion, with a share of 18.42%; Bangladesh benefited the most, with its share increasing to 9.71%; India’s revenue was US$5 billion, a year-on-year increase of 45%; Indonesia’s was US$4.95 billion, a year-on-year increase of 47.57%.
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