CAFTA-DR countries tap 7.40% surge in apparel exports to USA

by Apparel Resources News-Desk

17-June-2019  |  2 mins read

CAFTA
Image Courtesy: www.bushcenter.org

USA marked 7.40 per cent growth in its apparel imports from The Dominican Republic-Central America FTA (CAFTA-DR) during Jan.-Apr. 2019 period. The value of apparel import stood at US $ 2,695.89 million.

CAFTA-DR is a free trade agreement between the United States and a group of 6 smaller developing economies including El Salvador, Guatemala, Honduras, Dominic Republic, Costa Rica and Nicaragua.

The largest country was Honduras with US $ 826.08 million worth of exports in the said period. Honduras noted a significant growth of 13.25 per cent and surpassed emerging Asian hub Cambodia which could manage to ship just US $ 809.92 million (up 2.45 per cent) to USA.

El Salvador followed Honduras and exported apparels to USA worth US $ 565.92 million marking a minuscule growth of 1.06 per cent on the yearly note. Nicaragua, on the other hand, grew 9.36 per cent to ship US $ 552.02 million worth of apparel shipment to USA.

The 4th export destination in the tally was Guatemala with US $ 473.71 million export to USA. Guatemala upped its apparel shipment by 2.84 per cent on Y-o-Y basis in the US market.

Dominic Republic noted a significant jump of 9.68 per cent to hit US $ 236 million export value from apparels.  While Costa Rica remained the least significant among all countries with just US $ 6.03 million (up 24.08 per cent on Y-o-Y) worth of apparel shipment.

It’s worth noting here that the apparel imports by USA amounted to 33 per cent of overall import value (US $ 25.20 billion) of CAFTA-DR in 2018 and the share is expected to rise by 3 per cent to reach 36 per cent by 2019 end seeing the trade tussle between China and USA.

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