The US has escalated in its apparel imports. The country noted a 1.04 per cent rise in volume terms during the January to October 2017 period.
The largest apparel importer in the world imported 23,109.54 million SME of apparels during the review period as against 22872.37 million SME in the prior-year period.
Further, the country reported a fall of 0.80 per cent in value terms on the Y-o-Y basis. The UVR for the said period was US $ 2.96 as against US $ 3.01 in the same period last year.
China, Vietnam, Bangladesh, Indonesia and India were the top five apparel exporters to the US during the first 10 months of 2017. The countries exported apparels to the US worth US $ 23.16 billion (down 3.64%), US $ 9.84 billion (up 6.79%), US $ 4.35 billion (down 4.93), US $ 3.93 billion (down 2.81%) and US $ 3.22 billion (up 2.06%), respectively.
The data released by OTEXA indicates that only Vietnam and India reported growth, in particular, in both exports volume and value to the US during the said period.
On the other hand, China noted a surge in volume of exports by 1.93 per cent while the country dropped the unit prices of apparel to stay competitive in the global market.
The cumulative apparel import data of the US will further rise till the end of 2017 as per the projection. Holiday season sales are also expected to surge by 4 per cent this year in the country.