H1 '20 Report: US apparel import down by over 30%; China regains top position in tally
The first half of 2020 has gone, and the statistics of the USA apparel imports are out! As speculated, the country has experienced a 30.37 percent fallin January-June 2020 period in its apparel import worth Us S 27.88 bilion as against US S 40 bilion in the same period of the prioryear.
The USA noted fall in both the quarters of 2020. Q1 "20 (pre-COVID-19 quarter) was down by 12.07 per cent on Y-o-Y basis to import us 917.85 bilion worth of apparels, while the import valued at US $ 10 bilion in 02 "20 (COVID-19 guarter) which is almost half (49.20 per centfrom what it valued in Q2 of 2019.
The decline in apparel import was 43.79 per cent in C2 20 over Q1 '20. However, the monthly data of June "20 suggests that apparel market inhe USA has started rebounding gradually, as pandemic fades away. The USA saw 49.35 per cent growth in June "20 over May "19 andmported Us $ 3.97 bilion worth of apparels. Despite this steep surge the country wasn't anywhere near to what it had imported in June "19and declined 42.82 per cent on M-o-M basis.
AIl the top apparel shippers to the USA fell in their respective exports to the USA on Y-o-Y basis in January-June 20 period. But, as the uUsapparel market is picking up, a monthly growth can be seen by all top five apparel exporters in June '20 over May '20 - and that's a
Here is the first halfyearly analysis of the USA apparel import and the performance of the major shippers during January-June "20China recovered to become top exporter to the USA again in @2 '20 after losing top spot to Vietnam in Q1 '20 -
in H1 '20, Chinal's shipment to the USA was worth Us $ 5.77 billion which is 49.10 per cent down from the same period of 2019china declined by 43.12 per cent to ship US $ 3.27 bilion apparels to the USA in January-March period of 2020, while, in the subsequentquarter April-June "20, the shipment valued at Us S 2.50 bilion noting 55.25 per cent from the corresponding period of the prior vear and 23
per cent from Q1 of 2020.china lost its top positon to Vietnam in 01 "20. but oradual month-over-month increase in Mav "20 and then in June "20 helped China close 020 by regaining its top position in apparel exports to the USA
China's share to overallimport value of the USA in Q1 '20 stood at just 18.31 per cent, while in the 02 20 it rose to 24.91 per cent.
As far as June '20 in concerned, China declined by 49 per cent over June "19 to US $ 1.15 bilion. However, there is a massive rebound of59.60 per cent in the Chinese shipment to the USA in June '20 over May '20.
Despite fall. Vietnam increased share to the us A in @2 720
Vietnam's shipment to the USA valued at Us $ 5.65 biion in H1 "20, US S 110 milion less than that of ChinaEarier in Q1 "20, Vietnam had seen a yearly growth of 4.50 per cent and managed to ship Us S 3.38 bilion worth of garments to the USA. Itthen plunged significantly by 27.26 per cent on Y-o-Y in Q2 '20 to clock US $ 2.37 billion.The fall in Q2 '20 over Q1 '20 in apparel shipment of Vietnam was 32.65 per cent.Vietnam constituted 18.93 per cent in overal import value of the USA in Q1 "20 as against 15.93 per cent share in the same period of 2019The share increased in Q2 '20 to 22.68 per cent all because of a sharp decline in the USA's import value.June was also positive for Vietnam, as the country's apparel export to the USA stood at US S 848.87 million in this month and the monthlincrease from May "20 noted was 35.92 per cent, while vearly decline was 20 per cent from June "19.
Bangladesh shipped garments worth just US $ 796 million in Q2 20 - the worst quarter in recent years!Bangladesh's apparel shipment to the USA valued at Us $ 2.47 billion in H1 20, noting 19.73 per cent fall on Y-o-Y basis.in Q1 '20. the country clocked US $ 1.67 bilion in its exports to the USA, upping 6.73 per cent on Y--Y basis: while 02 '20 could just tap Us s796.44 million, falling 47.23 per cent from the corresponding quarter of the previous year.The decline in Q2 20 as compared to Q1 20 was 52.44 per cent.The shipment fell massively in April '20 and May "20 due to country-wide lockdown and US buyers' order cancellationsShipping apparels to the USA worth just US S 168.45 milion in May "20, Bangladesh got a monthly surge of 36.62 per cent in June '20 andclocked US S 230.15 million, However, decline in June "20 from June "19 was 56 per cent.The share of Bangladesh in total US import values was 9.38 per cent in Q1 20, which reduced to 7.93 per cent in 02 "20, owing to a massivefall registered in May ?20.
India just followed the trend, saw sharp increase in June '20 over May 20India shipped apparels worth US $ 1.54 bilion to the USA in January-June "20, noting a 32.10 per cent fall on yearly basisBefore COVID-19 hit lndia's business, the export from the country was already down in Q1 20 by 1.50 per cent to US $ 1.14 bilion.This cot worse in 02 '20 as the shioment from ndia was iust Us 396 62 milion. falin 64 14 per cent from the same neriod of 2019 an65.24 from Q120.
The countrv's share in overall import value of the USA was 6.39 per cent in Q1 "20 which sharply reduced to just 3.95 per cent in 02' 20n June '20 when the US market started rebounding, India saw a monthly surge of 80.13 per cent over May "20 to ship US S 13.45 milionworth of apparels to its largest export destination
However, the yearly fall marked by lndia in June '20 over June '19 was 63 per cent.