USA’s apparel imports from world during January-May 2022 grew by 40.11% compared to the same period of 2021 (According to OTEXA) . During this period, USA imported USD 40.93 billion from the world.
During this time, USA’s imports from Bangladesh increased by 59.06% to USD 4.12 billion. Bangladesh sucres 10.05% share in USA’s total clothing imports.
With 20.20% share China continues to be the largest supplier of apparel to the USA, followed by Vietnam with 18.66 % share. During the first five months of 2022, USA’s imports from China grew by 41.99% and reached USD 8.27 billion. At the same time, imports from Vietnam stood at USD 7.63 billion with 32.38% year-on-year growth.
Among the top ten apparel suppliers to the USA, imports from South Korea, Indonesia, Pakistan India, and Cambodia increased by 68.83%, 59.75%, 56.49%, 55.06% and 47.05% year-on-year respectively. On the other hand, imports from Honduras and Mexico, which are among the top 10 suppliers, registered only 22.49% and 23.14% growth respectively compared to the same period of 2021.
The import figures indicate that USA’s economy is witnessing fast recovery from Covid crisis, yet rising inflation and slowdown in economic growth are likely to affect the market in the coming days.