The AR projection comes true again!
The latest USA apparel import data released by OTEXA is on the lines of what Apparel Resources had been projecting for quite some months. AR has been telling its readers that India will CERTAINLY surpass Indonesia to become the 4th top apparel exporter to USA and, during Jan.-Apr. ’19 period, the apparel exports from both countries stood on almost equal values.
India exported apparels worth US $ 1,567.28 million to USA in the mentioned period, staying just US $ 3.70 million behind Indonesia’s figure, which stood at US $ 1,570.98 million. India tapped 10.76 per cent growth in the first 4 months of 2019, while Indonesia’s growth restricted to just 1.86 per cent on Y-o-Y basis.
It’s worth mentioning here that Indonesia earned US $ 4,474.96 million in 2018, a US $ 670.24 million more than what India had exported (US $ 3,804.72 million) to USA in the same calendar year. Remarkably, India covered up this gap in just 4 months and there is no way Indonesia can stop India from overtaking its own export figures in the next month as indicated by the data.
(Read about the projection here – Apparel export to the US: China sees limited growth; India, Bangladesh, Vietnam benefit from current situation)
The total apparel import of USA valued at US $ 26.45 billion (up 5.76 per cent) and India’s share in this increased to 5.92 per cent in 2019 from 5.34 per cent in the corresponding period of the prior year.
During the period, the top three apparel exporters to USA were China, Vietnam and Bangladesh with US $ 7,249.07 million (up 0.03 per cent), US $ 4,239.21 million (up 12.88 per cent) and US $ 2,033.45 million (up 13.91 per cent), respectively.
Comparative analysis of USA Apparel Import in value terms (January to April 2019)
|S. No.||USA Apparel Import (Country-wise)||OTEXA’s Figure
(in US $ million)
|% Change on
Watch this space for more such PERFECT analytical predictions!