The biggest beneficiaries in kidswear export to USA in January 2020 are India and Bangladesh.
According to OTEXA, USA imported US $ 237.14 million worth kidswear in January and grew by 1.23 per cent on Y-o-Y basis. India massively surged by 27.17 per cent in its kidswear exports to USA, while Bangladesh grew by a huge 44.76 per cent.
India shipped kidswear worth US $ 33.59 million to USA in January 2020 as against US $ 26.41 million worth of shipment in January 2019. On the other hand, Bangladesh escalated its kidswear export to US $ 30.05 million from US $ 20.76 million a year earlier.
Vietnam shipped kidswear to USA worth US $ 31.32 million during the same time, which is 10.19 per cent higher than January 2019. Seeing the data, it’s clear that India surpassed the export value of Vietnam in kidswear export, while Bangladesh almost narrowed the gap with this 2nd top RMG exporter to USA.
Indonesia also steered its kidswear export to USA in January which was down till December by 20.78 per cent. Revenue that Indonesia earned in this category was US $ 9.72 per cent, growing at 12.93 per cent rate on Y-o-Y basis.
China dipped enormously by 43.68 per cent due to Coronavirus outbreak in January as it declared lockdown in most of the provinces which prevented Chinese factories to achieve on-time shipment. China could export kidswear to USA just worth US $ 56.53 million in the first month of 2020 as compared to US $ 100.37 million in the same month of 2019.
Lunar year in China also fell in January this year, which contributed to dwindling export performance of the country.
As the sad state of the Chinese industry continues amidst COVID-19 outbreak, the industry sees this as an ‘opportunity’ for other countries to grab. “The impact will continue for at least 5 months from January as supply chain has been affected badly due to the spread of Coronavirus. Bangladesh and India can catch this bus of shift that is bound to skew from China from January onwards,” opined a top industry professional in conversation with Apparel Resources.