Bangladesh’s apparel exports to the United States shot up by 44.38% or $444 million in January-February of the ongoing 2021-22 fiscal year. It happened due to the increased rates and demand for clothing in the market.
The country’s RMG exports to the US in the first two months of 2022 increased to $1.44 billion compared to $1 billion in the same period of 2021, according to the US department of commerce’s office of textiles and apparel (Otexa).
Exporters said that the successful rebound of the US economy from the Covid-19 shock had created additional demand for apparel products.
Moreover, the increased import orders of knitwear products also contributed to this growth, they said.
According to the Otexa data, the value of apparel products in January-February increased more than the volume in the world market.
In terms of volume, the apparel export to the US from Bangladesh in the first two months of this year grew by 35.11% to 530 million square metres from 392 million square metres in the same period of 2021, the data showed.
The Otexa data also showed that the total US imports of RMG from the world in January-February this year increased by 37.64% to $15.02 billion in value while the import increased by 24.69% to 5.24 billion square metres in volume during the period.
The US apparel import from China in the first two months of 2022 grew by 46.64% to $3.59 billion from $2.45 billion in the same period of 2021.
RMG imports by the US from Vietnam in January-February 2022 increased by 26.22% to $2.64 billion from $2.09 billion in the same period of 2021.
India’s RMG exports to the US market in the first two months of 2022 grew by 47.52% to $876 million from $594 million in the same period of the previous year.
RMG imports by the US from Indonesia in January-February 2022 increased by 55.97% to $862 million from $553 million in the same period of the past year.
Apparel imports by the US from Cambodia in the first two months of this year grew by 48.57% to $669 million from $451 million in the same period of 2021, the data showed.
The data also showed that apparel imports by the US from Pakistan in the first two months of this year grew by 61.06% to $435 million from $270 million in the same period of 2021.
Faruque Hassan, president of the BGMEA, recently said in a press conference that one of their goals was to brighten the image of the RMG industry by highlighting the positive aspects of the apparel industry to international brands and buyers.
He said that they are working to ensure that trade with the US does not get overshadowed by uncertainty through apparel diplomacy.
Recently, they have signed an agreement with American Apparel and Footwear Association (AAFA) which is undoubtedly a relief in the current context as the AAFA represents more than 1,000 world-renowned brands, retailers and manufacturers, he added.
He also said that under the MoU, both sides will work together to explore trade opportunities and gain market access for Bangladeshi garments in the US market, motivate buyers in responsible purchasing practices, accelerate the sustainable development of Bangladesh's garment industry and enhance the US and Bangladeshi industry partnerships.
“Moreover, in our latest visit, we also met with high-level representatives from the top clothing brands of the US like Ralph Lauren, United Legwear & Apparel, YKK (USA) Inc, PVH, Under Armour, Fontheim,” he added.
He also said that they would also like to request global brands to increase their sourcing from Bangladesh and assist in increasing the capacity of suppliers to manufacture high-end garments, especially non-cotton items and technical textiles.
The garment industry is facing pressure due to the Russia-Ukraine war, but they expect to recover from it soon and Bangladesh may be able to shield it from the immediate impact of the war.
Meanwhile, US hemp fibre company Panda Biotech has said that it will work with the BGMEA to introduce US-grown sustainable hemp fibre to Bangladesh's apparel exporters from October, reported Just Style on March 16.
Earlier, BGMEA President Faruque Hassan met Mark D'Sa, Business Development, Panda Biotech, an emerging leader in the industrial hemp fibre industry, in Washington DC on March 10.
BGMEA president also said that Bangladesh’s garment industry is committed to continuing its pursuit of excellence in the area of environmental sustainability in a bid to manufacture garments in a way that is good for people and the planet.
Shahidullah Azim, vice-president, BGMEA told Dhaka Tribune that Bangladeshi clothing has always had a good position in the American market. The entrepreneurs are working hard to sustain this trend of export growth to the US.
“The US market showed a strong rebound and created additional demand for the apparel products as they have overcome the shock of the pandemic and their market has returned to normalcy,” he added.
Moreover, the China-US trade war also accelerated Bangladesh’s share in the US market.
Regarding the rise of the share of Pakistan in the US market, he said that there is nothing to worry about.
According to the Export Promotion Bureau (EPB) data, Bangladesh exported apparel items worth $27.50 billion in the first eight months (July-February) of the 2021-22 fiscal year with a 30.73% y-on-y growth.
