The cotton trouser import by USA dropped 11.65 per cent in volume terms in January 2020. The country imported 16.68 million dozen cotton trousers in the first month of 2020 as against 18.89 million dozen cotton trousers in the same month of 2019.
USA plunged value-wise also by 11.77 per cent and imported cotton trousers worth US $ 1,023.66 million, which is significantly lesser than the import value – US $ 1,160.19 million – in January 2019.
Bangladesh has surpassed China in its cotton trouser exports to USA probably for the first time.
The country grew by 9.92 per cent and shipped cotton trousers worth US $ 237.86 million to USA in January, while it noted surge by 3.69 per cent in volume terms.
China, on the other hand, sunk drastically by 32.95 per cent in volumes to ship 3.81 million dozen cotton trousers to USA, while values plunged by 47.69 per cent which stood at US $ 161.10 million.
Even Vietnam noted impressive growth of 10.66 per cent to ship cotton trousers worth US $ 185.72 million in the mentioned month.
Due to this massive disruption, China slid to third rank in the list, allowing Bangladesh and Vietnam to overtake it and become top two exporters of cotton trouser to USA.
As per Apparel Resources’ prediction back in 2018, our data analysis team projected, “Given the pace at which Bangladesh is moving and China is falling in this basic category, it is projected that former will overtake latter by the end of 2019 in the American market too.” And this stays true in the first month of 2020, if not in 2019.
Cambodia (US $ 51.61 million) also noted unprecedented growth of 20.54 per cent amidst global slowdown caused by COVID-19 since January. As far as India’s export in cotton trouser segment is concerned, the country failed to start 2020 on a positive note and slumped by 10.68 per cent to reach US $ 28.68 million revenues.