- USA fell in its MB jeans import values by 77.80 per cent in May ’20 on Y-o-Y basis
- Mexico, Nicaragua and China surprisingly upped massively in May ’20 over April ’20
- China, despite monthly growth in May, stands at 6th spot in the tally
- India didn’t make its presence in top shippers’ tally and it raises a huge concern to the cotton traditional country
Men & Boys (MB) denim jeans imports of the USA fell drastically in May ’20 both in quantity and value on yearly basis. The shipment was worth 444,155 dozen in quantity and US $ 37.95 million in value during May this year, falling 75 per cent and 77.80 per cent, respectively.
In the same month of 2019, the USA had imported 1.76 million dozen of MB jeans worth US $ 170.66 million and the reduced import this year is, needless to say, all because of widespread pandemic all across the world, especially the USA.
As far as monthly decline is concerned in May ’20 over April ’20, the total MB jeans import of the USA plunged by 25.57 per cent in values and 22.60 per cent in quantities. The USA’s import of MB denim jeans in April ’20 valued US $ 51 million.
The cumulative decline in Jan.-May ’20 period was recorded 38.78 per cent and the import valued at US $ 437.74 million, a US $ 278 million less than what the country had imported in Jan.-May ’19 period.
Key observations in MB jeans import by USA: May ’20
- Mexico shipped 66,153 dozen MB jeans to the USA worth US $ 7.54 million and was down on Y-o-Y basis by 89 per cent in values and 88 per cent in quantities.
- However, on M-o-M basis, Mexico upped massively both in quantity-wise exports and value-wise exports which came as a surprise.
- Mexico noted staggering growth of 104.7 per cent in quantity of MB jeans exports to the USA in May ’20 over April ’20, while it escalated by 86.17 per cent in value-terms.
- Bangladesh was the second largest exporter of MB jeans to the USA with 80,210 dozen shipment worth US $ 5.82, which is a sharp decline of 80.30 per cent and 81.30 per cent, respectively, on yearly basis.
- It’s clearly evident in data that Bangladesh shipped more jeans than Mexico, but clocked less revenue. This indicates unit prices of Bangladesh are lower than Mexico and it is exporting more basic commodity to the USA.
- Bangladesh’s unit prices of MB jeans export were US $ 72.56 per dozen in May ’20, a 5.28 per cent less than the same month of 2019.
- On the other hand, Mexico’s UVR of MB jeans increased from US $ 105.67 in May ’19 to US $ 113.98 in May ’20, noting a 7.86 per cent surge on Y-o-Y basis.
- The surge in Mexico’s shipment is probably because of the gradual reopening of the US apparel retailers in later half of April and May. The Latin American country got advantage of being in close proximity to the USA at a time when Bangladesh was under lockdown. Mexico could also ship faster than any other Asian country during COVID-19.
- China’s decline was worse than Nicaragua. The CAFTA-DR benefitted country surpassed China to ship US $ 4.10 million worth of MB jeans to the USA in May ’20. The shipment value of China stood at just US $ 2.09 million.
- Nicaragua registered a Y-o-Y fall of 61.70 per cent in value and 57.40 per cent in quantity, while China tumbled by 80.40 per cent in values and 80.60 per cent in quantity in May ’20 over May ’19.
- However, both Nicaragua and China noted significant surge in May ’20 as against April ’20, both in values and quantities.
- Nicaragua shipped 46,622 dozen of MB jeans in May’20, while China’s shipment stood at 22,767 dozen, noting a surge of 82.8 per cent and 40.10 per cent, respectively, as compared to April ’20.
- In value-terms, Nicaragua upped exports in May ’20 by 79.06 per cent over April ’20 and China scaled up by 30.63 per cent on monthly basis.
- Pakistan, a major denim apparel exporting destination, declined on yearly basis both in quantity (77.3 per cent) and value (78 per cent) in MB jeans shipment to the US market.
UVR comparison of MB denim jeans exports to USA from major destinations: (Period: May ’20)
|S. No.||Country||UVR of Denim Apparels(in US $ per dozen)|
MB denim jeans exports to USA from major destinations: (Y-o-Y change in May ’20)
MB denim jeans exports to USA from major destinations: (Period: Comparison between May ’20 and April ’20)
|Countries||Qty (in dozen)||Value (in US $ mn)||% Change|
|May ’20||April ’20||May ’20||April ’20||Qty||Value|