According to a report by Bangladesh’s “Financial Express” on February 10, Bangladesh’s apparel exports to the United States reached US$7.14 billion in 2021, making the United States the largest single destination market for Bangladesh.
U.S. Department of Commerce data shows that Bangladesh’s apparel exports to the United States increased by US$1.91 billion in 2021 from US$5.22 billion in 2020. This also exceeds the pre-pandemic level of $5.92 billion in 2019.
Industry insiders believe that the rapid growth of apparel exports to the United States is mainly due to the actual demand in the United States, especially the increase in demand for knitted products, the sharp rise in raw material prices, and the buyer’s purchase volume The increase is the result of a combination of factors such as Bangladesh’s better control of the epidemic and the shift in orders caused by the Sino-US trade war.
U.S. Department of Commerce data shows that U.S. apparel imports will increase from $64.06 billion in 2020 to $81.59 billion in 2021, an increase of 27.36%. The growth in U.S. apparel imports has driven growth in Bangladesh’s apparel exports.
