The only countries to see growth in their exports to USA (both in values and volumes) were Cambodia, Myanmar (from Asia) and Ethiopia and Tanzania (from Africa), during Jan.-May ’20 period.
During Jan.-May. ’20, USA imported US $ 23.92 billion worth of apparels as compared to US $ 33.11 billion apparels in the same period of the prior year, which is 27.76 per cent decline on Y-o-Y basis. The country has never dipped this much in its imports in the first 5 months of a year.
Cambodia shipped 398.76 million SME garments to USA worth US $ 1,076.73 million, marking a growth of 1.77 per cent and 6.46 per cent, respectively.
Unit value per SME of Cambodia was US $ 2.70 which is 4.65 per cent GREATER than what it valued – US $ 2.58 – in the same period of 2019. The increased UVR suggests Cambodia has been shipping high end garments to USA lately.
The second positive country in Asia was Myanmar which surged massively by 82.84 per cent in volumes and shipped 45.58 million SME garments to USA worth US $ 114.22 million which is a yearly surge of 44.71 per cent.
Myanmar’s UVR sharply decreased by 20.70 per cent to US $ 2.50 per SME in the period from US $ 3.16 per SME in the corresponding period of the prior year.
This decline in UVR indicates Myanmar has shipped more basic garments to USA than the previous year.
On the other hand, African continent too witnessed growth in export of apparels to USA from two countries. Ethiopia surged by 17.29 per cent in volumes and exported 36.26 million SME of garments to USA in the first five-month period of 2020, while, in value-terms, Ethiopia upped its exports by 19.73 per cent on yearly basis and clocked US $ 91.13 million.
UVR of Ethiopia values US $ 2.51 in Jan.-May ’20 as against US $ 2.36 in the same period of 2019, marking 2.16 per cent jump on the yearly note.
Tanzania was another growing African country with US $ 19.38 million worth of apparel shipment to USA, noting 6.35 per cent growth on Y-o-Y basis.
The country also grew by 15.26 per cent in volumes and shipped apparels worth 7.80 million SME to USA. UVR of Tanzania was down by significant 7.63 per cent as it valued at US $ 2.48 per SME as against US $ 2.69 per SME in Jan.-May ’19 period.
Markedly, no country from above four, could even reach to the average UVR of overall import of USA which was US $ 2.93 per SME in the mentioned period.
When it comes to May ’20, Myanmar was the only country out of these four nations which reported growth in apparel exports to USA. Myanmar shipped 6.97 million SME of garments to USA in May ’20, marking 72.30 per cent growth against what it exported in May ’19.
In value-terms, the country upped its growth by 43 per cent in May ’20 over May ’19 and clocked US $ 20.25 million.