Bangladesh's Apparel Exports to USA Grow 36% in 2022
07 August 2023, Mumbai
The Office of Textiles and Apparel (OTEXA) of the U.S. Government has released trade statistics for the textiles and apparel sectors.
Multiple data points
The data shows that Bangladesh's apparel exports to the USA grew by 36% in 2022, reaching US$9.74 billion. This makes Bangladesh the third largest apparel supplier to the USA, behind China and Vietnam.
China remains the top apparel supplier to the USA, with a market share of 21.75%. However, its apparel exports to the USA grew by only 10.83% in 2022. Vietnam is in second place, with a market share of 18.26%. Its apparel exports to the USA grew by 28.46% in 2022.
Competitiveness
Bangladesh's apparel exports to the USA have been growing steadily in recent years. This is due to several factors, including the country's competitive labor costs, its growing infrastructure, and its compliance with international labor standards.
Bangladesh is looking to further increase its apparel exports to the USA. The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) is working with the American Apparel & Footwear Association (AAFA) to make trade between the two countries easier.
The BGMEA is also urging the US Government to consider duty-free market access to the USA for garments made of US cotton.
Conclusion:
Bangladesh's apparel exports to the USA are growing rapidly. The country is well-positioned to further increase its market share in the USA in the coming years.
CREDITS: BGMEA Press Release.
