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Dhaka Tribune

Bangladesh’s apparel exports to US decline 21.77% in Jan-Aug'FY23

The US imported $5.18 billion worth of apparel from Bangladesh during the first eight months of 2023, compared to $6.62 billion during the same period in 2022

Update : 09 Oct 2023, 08:01 PM

The United States’ apparel imports from Bangladesh have declined by 21.77% during the January-August period of the fiscal year 2023.

The US imported $5.18 billion worth of apparel from Bangladesh during the first eight months of 2023, compared to $6.62 billion during the same period in 2022, according to data published by the Office of Textiles and Apparel (Otexa) under the US Department of Commerce.

Bangladesh is the third-largest apparel supplier to the United States.

According to Otexa data, the United States’ overall apparel import from the world has declined by 22.77% in January-August 2023 to $53.45 billion, from $69.21 billion in the same period of 2022.

All the top apparel import sources of the US including China, Vietnam, Bangladesh, India and Indonesia have shown significant negative growth in terms of both value and volume.

The US’ import from China, the largest apparel import source, has declined by 29.47% whereas their import from the second largest source, Vietnam, also dropped by 24.57%.

Import from the other countries such as India, Indonesia, Cambodia, Mexico, Honduras, Pakistan and South Korea also declined by 21.59%, 26.09%, 27.28%, 8.87%, 22.26%, 29.24%,  and 11.74% respectively.

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