US retailers and brands have reduced imported readymade garment shipments by almost 25%, impacting exports from China, Vietnam, Bangladesh, India, and Indonesia.
The latest data from the US Department of Commerce's Office of Textiles and Apparel (OTEXA) reveals that in the first four months of this year, the US imported apparel worth $25.21 billion, a decrease of approximately 22.15% compared to the same period last year when imports amounted to $32.39 billion.
China experienced a significant drop in readymade garment exports to the US, with a 32.45% decline, exporting garments worth $4.52 billion in the first four months of this year compared to $6.69 billion in the corresponding period last year.
Vietnam saw a 27.33% decrease in garment exports, while Bangladesh and India experienced declines of 17.88% and 16.59%, respectively. Indonesia's apparel exports to the US fell by 25.57%.
Inflation in the US, which spiked last year due to the Russia-Ukraine conflict, has now decreased to 4.9% in April. As a result, Bangladesh apparel businessmen anticipate an increase in garment orders for the upcoming summer season. The US remains the largest market for Bangladesh's apparel industry.
By Fashionating World