Bangladesh, Vietnam and India marked double-digit growth in their respective apparel exports to USA in January to June 2019 period.
According to OTEXA, Bangladesh exported apparels to USA worth US $ 3,080.63 million, marking 14.49 per cent growth on Y-o-Y basis. The growth was the highest among top 10 apparel exporting countries to USA.
The total apparel import of USA valued at US $ 40.05 billion in the first 6 months of 2019, rising 5.91 per cent on Y-o-Y basis. Bangladesh’s share in this value was 7.69 per cent, while the same was 7.11 per cent in the corresponding period of last year.
Vietnam surged 11.74 per cent on the yearly note to ship US $ 6,361.97 million worth of apparels to its largest export destination USA. And the country contributed 15.88 per cent in USA’s import value which is significantly greater than the last year’s figure (15.04 per cent). The country got benefit from Chinese slump in its exports and was able to grab the shift.
On the other hand, India got a boost of 10.43 per cent to take its export from US $ 2,052.93 million in the first 6-month period of 2018 to US $ 2,267.02 million in the same period of 2019. This rise becomes even more significant as the country has been facing stiff challenges in recent years due to non-performing exports.
Indonesia slightly picked up (2.35 per cent) in its apparel export to USA and clocked US $ 2,278.20 million, staying just ahead of India which surpassed it in the month of May. However, seeing India’s recent growth in the US market, it will be difficult for Indonesia to continue this lead in the long run.
Substantiating on the same, Apparel Resources analysed that Indonesia’s share in USA apparel import value was 5.88 per cent in the first half of 2018, while it reduced to 5.68 per cent in the review period of 2019. Contrary to this, India increased its share from 5.42 per cent last year to 5.66 per cent this year.