by Apparel Resources News-Desk
27-December-2018 | 4 mins read
Year 2018 will be known for its uncertainties in apparel trade between countries. USA, the largest apparel importer in the world, triggered trade war with China, its largest apparel trade partner and sparked up massive controversy throughout the year. USA also provided never-seen-before opportunities for the countries like Bangladesh, Vietnam, Ethiopia and Cambodia which, however will never become second China, were at least successful in capturing the significant shift coming from China. On the other hand, the EU is also on its way to conclude the year with better import value than it witnessed in 2017, all thanks to Bangladesh which is fiercely rising in the European market and outperforming even China as far as year-wise growth is concerned.
Let’s take a look at some developments which positively affected global apparel trade industry in 2018.
- Ethiopia inches closer to US $ 100 million mark in apparel export to USA
All eyes are on Ethiopia currently. Reason being, the country has emerged as a prominent garment manufacturing destination in last couple of years. For the first time ever, Ethiopia is about to hit US $ 100 million mark in its apparel export to USA in 2018 and that’s a positive sign for the country’s trade.
- RMG export of ASEAN to USA goes past US $ 10 billion mark
ASEAN, an organisation that comprises of 10 South-East Asian countries, registered growth in its apparel exports to USA in H1 ’18. It exported readymade garments (RMG) worth US $ 10.15 billion to USA, marking 4.31 per cent boost on the yearly note.
- Vietnam sees highest apparel and textile export turnover in 3 years
Vietnam’s apparel and textile sector has clocked an export turnover of US $ 36 billion in 2018 – an impressive increase of 16 per cent compared to 2017. Interestingly, the country surpassed its target of US $ 35 billion which was set earlier in the year.
- Bangladesh’s apparel export to India sees 300% growth in Nov ‘18
It is not an exaggeration to say that Bangladesh has become a major go-to location for Indian retailers and the fact can be supported by the India’s apparel import data from Bangladesh which saw steep climb all through the year.
- China top apparel exporter to US with 41.90% share, despite trade war
With 41.90 per cent share in volume terms and 33.13 per cent share in value terms, China continued to be the top most sourcing destination for USA.
- Japanese apparel import clocks US $ 12.42 billion in H1 ’18
The first half of 2018 proved to be a better year for Japan’s apparel import as compared to H1 ’17. The total apparel import valued at US $ 12.42 billion in H1 ’18 marking 3.50 per cent growth on the yearly note. Japan also faired quite well in subsequent months after H1.
- US remains Bangladesh’s top apparel export destination in Jul-Sep ‘18
The tug of war between USA and Germany to become top exporting destination for Bangladesh came to an end as the former took a considerable lead over latter in the first three months of fiscal 2018-19.