USA’s apparel import from Bangladesh increased by 53.54% in January-August compared to the same period of 2021, as it holds the position of the 3rd largest apparel import source for the USA.
Meanwhile, Bangladesh’s imports from the world grew by 37.35% in the same period, according to the data released recently by the US’s official source “Office of Textiles and Apparel (OTEXA)”.
In January-August 2022, the USA imported $6.64 billion worth of apparel from Bangladesh.
During the first eight months of 2022, USA’s imports from China grew by 37.17% and reached $15.56 billion. At the same time, imports from Vietnam stood at $12.80 billion with 33.62% year-on-year growth.
Among the top ten apparel suppliers to the USA, imports from India, Indonesia, Cambodia, South Korea and Pakistan increased by 56.90%, 56.48%, 51.64%, 42.96% and 42.16% year-on-year respectively.
The import figures indicate that USA’s retail industry is witnessing a fast recovery from Covid-19 crisis. This reflects Bangladesh’s export till July 2022 which was significantly higher.
Such a sharp uptick in USA’s import growth is not foreseen in the current month and onward due to the depressive global economy and rising inflation.
Since Bangladesh’s RMG export maintained positive growth till August, this will reflect in USA’s imports in September, so some growth may be observed in US imports from Bangladesh in September, reads the report of OTEXA.
However, it’s likely that US’s imports from Bangladesh may post negative growth in October 2022.
