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15 May 2024


Business Insider Bangladesh

Woven apparel shipment to USA surges 45%

Jannatul Ferdushy || BusinessInsider

Published: 17:46, 13 March 2022  
Woven apparel shipment to USA surges 45%

Garment workers in a factory. Photo: File

As the exporters retained their product quality and business reputation, the USA has evolved to be the largest host nation to import Bangladesh’s woven apparel. They have increased import of woven products by 45 percent during July-January period year on year of the current fiscal year.  

Meanwhile, during the couple of years, Bangladesh’s shipment of knit wear rose tremendously amid Covid-19 pandemic as people stayed home and wore knit wear across the USA, for comfort.

In the first seven months of the current year, export of woven apparel to the USA recorded $3.26 billion while knit $ 1.82 billion, respectively. Shipment of woven apparel exceeds knitwear by $1.44 billion during this time, according to Bangladesh Garment Manufacturers and Exporters Association (BGMEA).  

At the same time of the previous year the shipment of woven was worth $2.25 billion and knitwear worth $1.15 billion, respectively. BGMEA data shows.

“Generally, the USA imports woven garments more than knitwear from Bangladesh. There are various facts that worked for US importers to increase woven products. Also, Sino-US trade relations and various geopolitical issues are influencing the trade where Bangladesh is getting the advantages,” Shofiqur Rahman, Head of Marketing of Zaber and Zubair Fabrics Limited, a sister concern of Noman group, told the Business Insider Bangladesh.

Moreover, Washington DC has been an old major business partner of Dhaka. During the last decade, Bangladesh has improved its automation in the factories, strengthened diplomatic relationships and was able to make the buyers dependent, he explained.

Meanwhile, “Bangladesh has improved some modern infrastructure in the country that is beneficial in any adverse situation to tap trade benefits. Therefore, the country is able to continue trade with the global partners,” said Asif Ashraf, Director of BGMEA and Managing Director of Urmi Group. 

In 2021 (CY) USA imported $2.56 billion cotton trousers while $982 million of knit shirts from Bangladesh, according to the Office of Textiles and Apparel (OTEXA), an affiliate of the US Department of Commerce.

And peers, such as Vietnam exported cotton trousers to the US worth $1.98 billion and China $1.68 billion, while knit shirts $ 2.21 billion and $1.52 billion, respectively.

During the eight months of the current fiscal year, Bangladesh fetched $27.49 billion from the international market by exporting trousers, T-shirts, sweaters, blouses, underwear etc.

 

Monetary Policy Stance
Budget 2020-21
Walton