USA apparel import from NAFTA countries (Canada, Mexico) has sharply fallen on yearly basis during the first half (January-June) of 2020, according to OTEXA.
The apparel import of USA from NAFTA valued at US $ 1.16 million, noting 38.22 per cent decline in H1 ’20 from H1 ’19.
However, as markets in USA started picking up from late May this year, the import of USA from these two countries increased in June ’20 over May ’20.
The monthly surge was 90.65 per cent and US apparel import under NAFTA valued at US $ 199.09 million in June ’20 as compared to US $ 104.85 million in May ’20.
Mexico contributed 86 per cent in overall apparel shipment value of USA under NAFTA during H1 ’20. The Latin American country clocked US $ 1 billion in its apparel exports to USA, falling 37.21 per cent on Y-o-Y basis.
In June ’20, Mexico grew by over 90 per cent as compared to May ’20 and shipped US $ 179.46 million of garments to USA.
On the other hand, Canada too noted 87.78 per cent growth in June ’20 over May ’20 and shipped apparels to USA worth US $ 19.63 million in the last month of H1 ’20.
However, in lines with the negative trend, Canada fell drastically in its apparel shipment to USA by 43.91 per cent on yearly note in January-June ’20 period and accommodated US $ 161.15 million.
It’s worth mentioning here that as Donald Trump, President, USA signed to revise NAFTA on 1 July 2020 to make it USMCA, the effect of the revised trade pact will be reflected in subsequent months.