US ap­parel im­ports grow; Viet­nam emerges as top ben­e­fi­ciary

Stitch World - - NEWS TRACK -

The United States posted a no­table growth in its ap­parel im­ports dur­ing Jan­uary to Fe­bru­ary 2018 pe­riod. Ac­cord­ing to the data re­leased by OTEXA, the coun­try was up by 4.36 per cent in vol­umes while val­ue­wise, it marked a 3.70 per cent surge.

The largest ap­parel im­port­ing coun­try in the world im­ported 4,700.63 mil­lion SME (square me­tre equiv­a­lent) of ap­par­els dur­ing the re­view pe­riod as against 4,504.42 mil­lion SME of ap­par­els in the cor­re­spond­ing pe­riod of 2017.

The US spent US $ 13.589 bil­lion (up by 3.70 per cent) on im­ported ap­par­els whereas, in the same pe­riod of 2017, it im­ported ap­par­els worth US $ 13.104 bil­lion.

Markedly, the unit val­ues came down by 0.68 per cent to US $ 2.89 per square me­tre of ap­par­els.

China has con­tin­ued see­ing an in­crease in vol­ume-wise ex­ports to the US while it is re­gain­ing sig­nif­i­cantly in val­ues. After see­ing a mas­sive fall of 7.24 per cent in ap­parel ex­ports value in Jan­uary, China rose by 0.97 per cent cu­mu­la­tively in the first two months of 2018, driven by the high ex­port share in Fe­bru­ary.

Viet­nam se­cured its sec­ond rank after China as it ex­ported ap­par­els to the US worth US $ 2.073 bil­lion (up by 6 per cent) as against US $ 1.956 bil­lion in the same pe­riod of the prior year. Viet­nam’s growth is the best per­cent­age-wise growth among the top 5 ap­parel ex­porters to the US. On the other hand, ap­parel ex­ports from In­dia too gained sub­stan­tially as it earned US $ 696.18 mil­lion from its ap­parel ex­ports to the US mar­ket, mark­ing an im­pres­sive growth rate of 4.92 per cent on a yearly note.

How­ever, Bangladesh is wit­ness­ing growth in the US mar­ket but at a slower pace due to the low unit prices and high-vol­ume ex­ports. The coun­try noted a growth of 1.13 per cent in val­ues as it shipped ap­par­els to the US worth US $ 937.71 mil­lion in the said pe­riod as against the ex­port value of US $ 927.25 mil­lion in the cor­re­spond­ing pe­riod of 2017.

Viet­nam se­cured its sec­ond rank after China as it ex­ported ap­par­els to the US worth US $ 2.073 bil­lion (up by 6 per cent) as against US $ 1.956 bil­lion in the same pe­riod of the prior year.

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