US IM­PORTS

FROM WORLD AN ANAL­Y­SIS CHINA STILL RE­MAINS AT THE TOP, VIET­NAM GRABS SEC­OND PO­SI­TION

Perfect Sourcing - - Inside -

US has al­ways been an im­por­tant des­ti­na­tion for ap­par­els and al­most all the trends in ap­parel fash­ion are tar­geted to­wards it. If we talk about re­tail sales in the US as per the lat­est fig­ures re­vealed by NA­TIONAL RE­TAIL FED­ER­A­TION, March re­tail sales in­creased 0.3 per­cent sea­son­ally ad­justed over Fe­bru­ary and 5 per­cent year-over-year as the econ­omy con­tin­ued to grow.

This is a healthy spend­ing re­port de­spite mar­ket volatil­ity, un­sea­son­able weather and un­cer­tain eco­nomic poli­cies said NRF in an of­fi­cial state­ment. Con­sumers con­tinue to show re­siliency in spend­ing, and these num­bers re­flect how the econ­omy is per­form­ing with a strong job mar­ket, gains in wages, im­prove­ments in con­fi­dence, ris­ing home value and ju­di­cious use of credit. The big­gest risk to spend­ing is in mar­ket fluc­tu­a­tions that could af­fect con­fi­dence, but ba­sic im­prove­ments in eco­nomic fun­da­men­tals is ex­pected to con­tinue.

The three-month mov­ing aver­age was up 4.8 per­cent over the same pe­riod a year ago, and the re­sults come as NRF is fore­cast­ing that 2018 re­tail sales will grow be­tween 3.8 per­cent and 4.4 per­cent over 2017.The March re­sults build on im­prove­ment seen in Fe­bru­ary, which was up 0.2% over Jan­uary and 4.3 per­cent year over year. Cloth­ing and cloth­ing ac­ces­sory stores were up 6.1 per­cent year-over-year but down 0.8 per­cent from Fe­bru­ary sea­son­ally ad­justed.

If we look at the fig­ures of to­tal ap­parel im­ports to the US from var­i­ous coun­tries, it is found that there is big shift in sourc­ing pat­tern of the US from 2016 to 2018. While China still re­mains the big­gest share­holder in ap­parel ex­ports to the US with around 33% share, Viet­nam is catch­ing up very fast.

In 2017 China ex­ported gar­ments worth USD 27.03bn, and if we look at the ex­ports in month of Feb in 2017 it stood at USD 4.37 while in the same pe­riod in 2018 it ex­ported gar­ments worth USD 2.70 bn a de­crease of around -1.56%.

In ex­ports to the US Viet­nam is now at the sec­ond po­si­tion, the coun­try ex­ported gar­ments worth USD 11.5 bn as com­pared to10.8bn in 2016. The coun­try has left no stone un­touched to suc­ceed the race of com­pe­ti­tion and is leav­ing Bangladesh also be­hind. In fact it saw a growth of around

7.32% in ex­port to the us and grabbed a share of 14.46% in the US mar­ket.

Com­ing on to Bangladesh which has been striv­ing hard to race up in the sup­ply chain and be­come the largest ex­porter the US the po­si­tion seems to be slip­ping a bit. The coun­try ex­ported gar­ments worth 5.06 bn to the US in 2017. In the year un­der re­view i.e in Feb month of 2018, Bangladesh ex­ported gar­ments worth USD 937.704 mn as com­pared to USD 927.253 mn reg­is­ter­ing a growth of 1.13%. This clearly in­di­cates that now the US is look­ing at other al­ter­na­tives to sourc­ing and may be soon Bangladesh will be­come stag­nant in growth in ap­par­els.

Com­ing on to In­dia the coun­try ex­port gar­ments worth USD 3.681bn to US in 2017. In the re­view pe­riod that is Feb 2018 it saw growth of 4.92% with USD 696.179 mn ex­ports as com­pared to 663.522mn in the same pe­riod last year. Over­all In­dia has seen a growth of 3.07% in the US mar­ket in year un­der re­view and has 4.60% share.

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