Bangladesh has achieved some growth in USA garment imports last year. From January to December 2024, the export value to the United States increased by 0.73%, reaching $7.34 billion. Additionally, the export volume rose by 4.86%.
The latest data on U.S. garment imports from January to December 2024 shows the performance of key supplier countries in the global garment market.
Despite a moderate overall growth in USA garment imports, prices increased by 1.82% and volume by 5.88%. However, the average unit price decreased by 3.83%, indicating downward pressure on competitive markets and price determination.
However, like the overall market trend, Bangladesh also saw a 3.94% reduction in unit price, which directly impacts profitability.
Compared to other major garment-exporting countries, Bangladesh’s performance was average. Vietnam saw a 5.67% increase in price and a 9.47% increase in quantity. On the other hand, India’s price increased by 4.95% and quantity by 13.09%. Cambodia experienced a 14.48% rise in price and an 18.45% increase in quantity, highlighting competitive market trends.
Meanwhile, Mexico and South Korea faced challenges. Mexico’s import price decreased by 6.78% and quantity by 15.18%, while South Korea saw a 12.94% decline in price and a 5.56% reduction in quantity.
Former Director of BGMEA, Managing Director of Bangladesh Apparel Exchange, and Additional Managing Director of Denim Expert Limited, Mohiuddin Rubel, told Liberty News that Bangladesh has shown relatively slow growth in exports to the United States compared to other major suppliers. He emphasized the need for strategic initiatives to address challenges and competition in this sector.
LND/SAKIB
