Earnings from readymade garment (RMG) exports from Bangladesh to the United States fell by 0.46 percent despite exports increased by 3.95 percent in January-November, according to the US Office of Textiles and Apparel (OTeXA).
The decline in unit price, down by 4.24 percent, indicates that despite maintaining export volumes, Bangladesh's revenue was impacted. This drop is attributed to competitive market pressures, changes in the product mix, or fluctuations in raw material prices.
US apparel imports have shown robust growth since September 2024, with a remarkable year-on-year increase of 41.6 percent recorded in November. However, the sharp rise in November was partly due to the unusually low import levels in the same month of 2023.
Despite the growth in US apparel imports, Bangladesh trails behind other top sourcing countries in growth rates.
For example, China posted a 0.4 percent increase, Vietnam 4.54 percent, Indonesia 0.19 percent, and India 4.5 percent during the same period.
From January to November 2024, the US's global apparel imports rose by 0.74 percent in dollar terms compared to the same period in 2023.
A steady recovery over the last three months (September-November) contributed to this positive trend.
In terms of volume, measured in square meter equivalents (SME), US global apparel imports grew by 5.24 percent year-on-year during the 11 months, reflecting a 4.28 percent decline in global import prices.
