Apparel Export from Bangladesh to US
The Textiles and Apparel of the Commerce Department has reported that the most recent data for apparel exports to the United States has increased annually by 48.57% to $8.46 billion in the period from January to October of 2022. (Otexa). Also, the US was Bangladesh's top export market for RMG goods during the same period last year, receiving $5.69 billion worth of clothing exports. In this article, we will notify about the How Apparel Export from Bangladesh to the US.
Bangladesh Import Data Share this Post to earn Money ( Upto ₹100 per 1000 Views )
The Textiles and Apparel of the Commerce Department has reported that the most recent data for apparel exports to the United States has increased annually by 48.57% to $8.46 billion in the period from January to October of 2022. (Otexa). Also, the US was Bangladesh's top export market for RMG goods during the same period last year, receiving $5.69 billion worth of clothing exports. In this article, we will notify about the How Apparel Export from Bangladesh to the US.
Textile and Apparel Department Notify about Export Data
According to the most recent data, garment exports to the United States climbed annually by 48.57% to $8.46 billion in the period from January to October of 2022, according to the Department of Commerce's Textiles and Apparel. (Otexa). Additionally, with $5.69 billion in apparel exports to the US during the same period last year, the US was Bangladesh's leading destination for RMG products.
Bangladesh holds the third-place spot with a 9.74% market share in the North American nation's garment sector.
According to Bangladesh Import Data, Bangladesh has the highest y-o-y increase among the top exporters to the US market. Additionally, in 2021 Bangladesh exported clothing to the US for $7.14 billion. However, in just nine months (Jan.-Sept.) this year, the nation was able to surpass the full-year earnings of 2021, which totalled $7.55 billion.
Bangladesh found a silver lining despite the continuous economic unrest around the world by exporting $8.46 billion in the first 10 months (Jan-Oct).
Otexa data show that overall US apparel imports over the same time period increased by 30.16% year over year to $87.09 billion from $66.91 billion in the January to October 2021 period. The Otexa statistics also revealed that US apparel exports increased from $694.12 million in October of last year to $910.86 million in October of this year.
According to the Bangladesh Import Data, Bangladesh made $755.94 million in revenue in January, $688.47 million in February, $1.03 billion in March, $820.52 million in April, $815 million in May, $906 million in June, $693.22 million in July, $928.56 million in August, and $912.71 million in September this year.
As of October 2022, China and Vietnam had the top two spots in the US market, respectively, according to the data.Among the other significant suppliers, US garment imports from China increased by 20.76% from $16 billion to $19.32 billion between January and October of 2022. China holds a 22.53% market share.
According to Export Data, Vietnam exported garment products worth $16.04 billion between January and October of 2022, up 32.01% from the $12.15 billion it exported during the same time last year and securing a market share of 17.94%.
Bangladesh came in second, with India coming in at number four with $5 billion in clothing exports during the January to October 2022 period, up 45.04% from $3.45 billion during the same period in 2021. India holds a 5.65% market share.
In the first ten months of 2022, RMG imports from Indonesia surged by 47.57% to $4.94 billion, while imports from Cambodia increased by 36.90% to $3.92 billion, placing them fifth and sixth with a market share of 5.64% and 4.35%, respectively, according to Otexa data.
The US has consistently been a significant market for Bangladesh, according to Shahidullah Azim, vice-president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), in an interview with the Dhaka Tribune.
However, the growth has also been hampered by the rising cost of raw materials and freight. In terms of exports to the US, Bangladesh has also constantly benefited from the ongoing trade disputes with China, and we believe this trend will continue," he added. Bangladesh Import Data provides the Imports Data, exporter Importer data Bangladesh and much more. It also enables you to acquire data on the top Bangladesh exporters, HS Codes; Bangladesh Importer Database, etc. If you have any query related to Bangladesh Imports Data. Please connect our business professionals; they will assist you to explore your business in the Bangladesh Trade market.
For more information Contact
Phone No:- 09990020716 | info@seair.co.in
Website - https://www.bangladeshimportsdata.com
