Bangladesh’s garment exports to the US rose 5.83 per cent year-on-year in the nine months to September. The growth of garment export to the US indicates that Bangladesh is becoming a lucrative destination for American retailers and brands.
US retailers expect strong demand this year and are prepared with a wide array of merchandise while offering strong deals and promotions during the busiest and most competitive shopping season of the year. Holiday retail sales in November and December are expected to be up between 4.3 per cent and 4.8 per cent over 2017. US consumers will spend in three main categories during the holidays – gifts, non-gift holiday items such as food, decorations, flowers and greeting cards, and other non-gift purchases that take advantage of the deals and promotions throughout the season.
Bangladesh expects a 10 to 15 per cent growth in garment exports to the US as the economy is rebounding there. Bangladesh has been sending garment products facing a 15.62 per cent duty whereas the duty for other garment exporting nations is relatively low. Even then the country is competitive in the US markets.
For many years, the US was the single largest garment export destination for the country, but last year Germany became the number one destination.