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AR projection on US apparel imports bang on! Negligible disparity in terms of value & volume

by Apparel Resources News-Desk

07-March-2019  |  3 mins read

Apparel Export Port
Image Courtesy: www.mhlnews.com

USA’s latest apparel import data released by OTEXA is almost on the mark with what Apparel Resources predicted two months back in its magazine, Apparel Online, ‘Retrospect’ issue of January 2019.

According to our projections, USA was projected to grow by 3.32 per cent on Y-o-Y basis in values to import worth US $ 82,919.33 million apparels, while volumes were predicted to get a boost of 2.72 per cent to touch 27,842.66 million SME figure during January to December 2018 period. Proving Apparel Resources’ projection right, the latest data says USA imported US $ 82,880.76 million worth of apparels marking 3.38 per cent growth, while volumes witnessed 2.80 per cent surge to 27,841.58 million SME; which is just 0.04 per cent deviation in values and 0.0038 per cent deviation in volumes from what AR forecasted in January issue.

Apparel Resources’ projection hits the bull’s eye in terms of country-wise import by USA too as top Asian apparel manufacturing countries noted negligible difference in what we predicted earlier. Despite trade war with China, apparel intake by USA from China grew by 1.34 per cent to US $ 27,371.07 million as against our projection; US $ 27,403.33 million with 1.39 per cent growth.

Comparative analysis of USA Apparel Import in value terms (January to December 2018)

S. No. USA Apparel Import (Country-wise) AR Projection
(in US $ million)
OTEXA’s Figure
(in US $ million)
Deviation
1 World 82,919.33 82,880.76 (-) 0.04%
2 China 27,403.33 27,371.07 (-) 0.11%
3 Vietnam 12,283.21 12,219.09 (-) 0.52%
4 Bangladesh 5,359.63 5,401.04 0.77%
5 India 3,814.40 3,805.59 (-) 0.23%

During the same period, Vietnam clocked US $ 12,219.09 million (up 5.78% on Y-o-Y) in its apparel export to USA. The export value is not too diverged from AR projection which was US $ 12,283.21 million with 6.29 per cent up from 2017. India too witnessed an escalation of 3.42 per cent in its value-wise apparel exports to USA and hit US $ 3,805.59 million figure. In our earlier prognosis, we analysed India would jump 3.61 per cent to conclude 2018 with US $ 3,814.40 million worth of apparel exports to USA.

Bangladesh did not repeat its performance of 2017 and got a huge access to the US apparel market probably due to its ability of capturing shift coming from China. The shift helped Bangladesh register 6.65 per cent growth to clock US $ 5,401.04 million in its apparel export to USA. The figures are almost as same as AR analysis which said Bangladesh will tap US $ 5,359.63 million value in apparel exports to the United States.

With this perfect analytical prediction, Apparel Resources yet again proves that when it comes to providing authentic content to its readers, it stays ahead in the race.