COVID-19 pandemic never allowed major apparel markets in 2020 to get stable which resulted in heavy decline in their import values.
The recent official data of US apparel import in 2020 resonates the same as the country is down by 23.46 per cent in import value.
USA imported US $ 64.07 billion worth of apparels in 2020, contracting by US $ 17.60 billion from 2019. This sharp shrinkage in values affected partner countries of USA and all major shippers were down in double-digits, except Vietnam which declined in single-digit.
In terms of volume, USA plunged by 16.37 per cent to 23,132.80 million SME in 2020. Unit prices also got severely hit and nosedived by 8.28 per cent in 2020 (as UVR stood at US $ 2.77 per SME) as compared to 2019 when UVR remained US $ 3.02 per SME.
Particularly in December ’20, as data shows, volume-wise decline of USA apparel import was not too much as it reduced by just 1.40 per cent on Y-o-Y basis.
However, value-wise decline was significant as import sunk 16 per cent to US $ 4.83 billion in the last month of 2020.
(Stay connected to know about country-wise performance in the USA market.)