China has been a dominant apparel manufacturing destination for decades but its status is dwindling now…
In the US apparel import values, China’s share was US $ 27.37 billion in 2018 which reduced to US $ 24.88 billion in 2019 and went on shrinking to US $ 15.15 billion in 2020.
Even in 2021, China has felt the heat in its apparel supply chains and the country is expected to conclude the year with US $ 17.84 billion, as per a recent forecast done by team Apparel Resources.
If prediction is anything to go by, China will end up losing around US $ 7 billion in its export values to USA as compared to 2019 figures and around US $ 10 billion as compared to 2018 figures.
The hammering reason behind this steep decline is the US Government’s ban on Xinjiang’s cotton as it’s been put on the US ‘entity list’ – precisely under blacklist – which means sourcing from China will further reduce and the US buyers will look for more alternatives in 2022 onwards.
