Two South-East Asian countries that have fought trade woes impressively due to COVID-19 pandemic in 2020 are Cambodia and Myanmar.
Both the countries have experienced a surge in their respective apparel exports to USA in Jan.-Oct. ’20 period, as suggested by OTEXA data.
Cambodia has shipped US $ 2.37 billion worth of garments to USA in the mentioned period, marking 3.65 per cent Y-o-Y growth.
The country’s textile exports to USA have also grown 22.36 per cent on Y-o-Y basis in the first 10-month period.
As far as October ’20 is concerned, Cambodia’s apparel shipment to USA valued US $ 286.06 million, which is 7.40 per cent more than the same month of 2019.
The rising exports from Cambodia in 2020 are expected to be continued in remaining two months – November and December – owing to festive season hopping surge in USA.
Resonating the growth due to festive season, Myanmar too reported an increase (Y-o-Y) of 24 per cent in its respective apparel exports to USA clocking US $ 35.24 million in October ’20.
Cumulatively in Jan.-Oct. ’20 period, Myanmar tapped US $ 264.78 million in its apparel exports to USA, noting 25.87 per cent yearly growth.
On the other hand, the textile exports from Myanmar have also jumped 88.41 per cent to US $ 123.85 million in Jan.-Oct. ’20.
