16 February 2023, Mumbai
We are sharing herewith the US-based agency Office of Textile and Apparels (OTEXA)'s US apparel import data released recently. The report mentions that the USA imported an accumulated apparel/garments worth 9.74 billion dollars of clothing from Bangladesh apparel exporters in the year 2022 as a proof of concept.
What is particularly noticable to observe is that Bangladesh's apparel industry has clocked the maximum growth rate amongst the competing nations for the top slot and thus notched up the honor of being a top-most exporter of denimwear to the US market.
As per BGMEA spokesperson," As a word of caution, it is vital to note that the sense of complacency to your peril, given the impending slowdown in the US retail market, been witnessed through recent months has already led to shrinking global imports, and no surprise Bangladesh's merchant exports to the US market have also shown some decline in the remainder last two months of November and December 2022.
It will be essential to keep a close tab on the emerging market trends and chart out appropriate strategies enabling sustained growth in the US market in the coming months & seasons".
