If there is one country which keeps its head above tides in its RMG exports to USA in badly hit 2020 due to COVID-19, that’s Cambodia – despite seeing a slight monthly decline in August.
The emerging South East Asian RMG manufacturing country has grown 4.20 per cent on Y-o-Y basis in its value-wise exports to USA during January-August ’20 period and clocked US $ 1.80 billion revenues.
Volume-wise, Cambodia grew 2.89 per cent to ship 687.19 million SME of garments till August this year.
The rise of Cambodia is significant as all other major apparel manufacturing countries have drastically fallen in their respective RMG exports to USA in the same period, which says how negatively these countries have been impacted this year.
However, there was a negative growth of 4.30 per cent in the month of August ’20 as compared to August ’19 when it clocked US $ 266.15 million from its apparel shipment to the US market, while M-o-M decline as compared to July ’20 reported was 9.21 per cent.
Despite plunging in August, the bounce back of Cambodia is certain, given the fact that US buyers preferred this country for placing orders for S/S 21 season which began in late August. The data of which will give clear picture next month.