According to the United States Fashion Industry Association (USFIA) 2022 benchmarking study, roughly 55% of US apparel executives expressed interest in rising sourcing from Bangladesh in 2024. Around 30 leading fashion brands, retailers, importers, and wholesalers participated in the USFIA Fashion Industry Benchmarking Study, including the nation’s largest brands and retailers. The article is about US Fashion Industry Showing Interest to Import More From Bangladesh, China, Vietnam, Indonesia.
Most of the top ten destinations for apparel sourcing in 2021 were based in Asia. China dominated with 91%, followed by Vietnam (88%), Bangladesh (84%), and India (72%). But this time, buyers are willing to escalate the sourcing value in the upcoming two years. India led the most significant increase, followed by CAFTA-DR and Bangladesh. Mexico secured fourth place, while Indonesia and Vietnam collaboratively secured fifth place.
Dominican Republic-Central America FTA is the first free trade agreement between the US and a group of developing countries. Such as: Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic, as Bangladesh has improved the capacity in the last few years to produce garment products other than the essential items. Currently, they are placing many orders for knitwear items from Bangladesh. As a result, the export growth of Bangladesh RMG products in the US market in the last few months was more than 50%.
Fazlul Hoque, Managing Director at Plummy Fashions Limited and Former President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), confirmed the report.
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