The amount hit $2.9 bn in the January-May period. Bangladesh’s garment shipment to the US, the south Asian nation’s single largest export destination, declined by 12.31 percent year-on-year to $2.9 billion in the January-May period because of lower import by the American retailers and brands from all over the world.
The combined textile and garment shipment to the USA fell by 11.91 percent year-on-year to $3 bn in the January-May period of this year, according to data from the Office of Textiles and Apparel (OTEXA). The OTEXA undertakes industry analysis, contributes to US trade policy development, participates in trade negotiations and trade promotion, and addresses trade barriers, according to its website.
In May, clothing and accessories stores were up 1.44 percent month over month seasonally adjusted and up 6.24 percent year over year unadjusted, according to data from the National Retail Federation (NRF), the largest retail association in the USA. Retail sales jumped significantly in May, showing strong increases both month over month and year over year, NRF said recently.
“Consumers have clearly retained their ability to spend and are driving solid economic growth,” NRF President and CEO Matthew Shay said.
