Apparel import volume by the USA from Bangladesh (volume in million SME) rose by 26.62 percent although the overall apparel import volume to the USA decreased by 5.30 percent, according to the US Government Office of Textiles and Apparel (OTEXA), from 2015 to 2024.
In comparison, Bangladesh's competitors have experienced varied changes: China saw an 18.36 percent (pc) decrease while Vietnam and India saw increases of 32.96pc and 34.13pc respectively. Indonesia experienced a 19.82 percent decrease and Cambodia a 10.78pc increase. Notably, Bangladesh's import volume rose by 26.62 percent.
Regarding unit prices, there has been a global drop of 1.71 percent. China and India saw declines of 33.80pc and 4.56pc respectively while Vietnam and Indonesia experienced increases of 6.64pc and 7.38 percent. Cambodia's unit price surged by 38.31pc, whereas Bangladesh recorded a positive change of 7.30 percent.
Looking ahead, industry insiders said Bangladesh appears to be maintaining a unit price level comparable to the average price the USA pays globally.
"However, when we analyze close competitors like Vietnam and India, it becomes clear that there is significant potential for Bangladesh to enhance its unit price. This improvement could lead to a substantial increase in export volume without raising the quantity exported," said Mohiuddin Rubel, former director of Brand BGMEA.
Rubel, also the Managing Director (MD) of Bangladesh Apparel Exchange and Additional MD of Denim Expert Ltd, said the data indicates that competitors are offering more value-added products, which is crucial for strengthening the country's market position.
To illustrate the importance of value addition, he also suggested for considering the export dynamics of China and Vietnam in 2024.
Despite their export values being nearly equal, Vietnam's export volume is less than half of China.
Rubel said this disparity is due to Vietnam's higher export of value-added products, with a per-unit price of US $3.59 compared to China's US $1.78.
"Focusing on value-added products will be essential for Bangladesh to enhance its export volume and market competitiveness," he added.
