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US Apparel Imports Decline, Impacting Bangladesh and Vietnam

Weakening US Demand Affects Apparel Exports

Apparel exports from Bangladesh to the United States, the country's largest export destination, declined by 10.97% to $3.40 billion in the first half of 2023. This decline follows a downward trend, as exports had previously fallen by 23.55% in the first half of 2023 and 5.18% in the first eight months of 2023 compared to the previous year.

Vietnam has also faced a decline in apparel exports to the US, with imports totaling $6.58 billion from January to June 2024, a 23.1% year-over-year decrease. This downturn is attributed to weakening demand in the US market, which is being impacted by rising inflation and economic uncertainty.

Garment Exports Remain Challenged

The decline in apparel exports from Bangladesh and Vietnam reflects the challenges faced by the garment industry in these countries. The US market remains a key export destination, but the weakening demand has led to a drop in orders from American retailers. This has resulted in lower production and job losses within the garment sector.