The latest data on annual US apparel imports, covering 2024, show the performance of major supplying countries in the global apparel market.
Despite a modest overall growth in US apparel imports, with a 1.82 percent increase in value and a 5.88 percent rise in volume, there was a notable 3.83 percent decrease in average unit prices, indicating a competitive market with downward pressure on pricing, said Mohiuddin Rubel, former director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), while sharing the data.
Bangladesh managed to hold its ground, achieving a slight 0.73 percent increase in export value to the US, reaching $7.34 billion, reports UNB.
The country also experienced a 4.86 percent growth in export volume. However, similar to the overall market trend, Bangladesh faced a 3.94 percent decline in unit price, which has a direct impact on profitability.
In comparison to other key apparel-exporting countries, Bangladesh's performance was moderate.
Vietnam showed a robust 5.67 percent increase in value and a 9.47 percent rise in volume, while India demonstrated significant growth with a 4.95 percent increase in value and a 13.09 percent rise in volume. Cambodia stood out with a remarkable 14.48 percent increase in value and an 18.45 percent growth in volume, highlighting its competitive edge in the market.
On the other hand, Mexico and Korea faced challenges, with Mexico experiencing a 6.78 percent decrease in value and a 15.18 percent drop in volume, and Korea seeing a 12.94 percent reduction in value and a 5.56 percent decrease in volume.
Bd-pratidin English/Fariha Nowshin Chinika
