According to latest released USA apparel import data, it is clear China is gradually losing share in the US market. China exported apparels worth US $ 9,066.15 million to USA during January to May 2019 period, growing marginally by 0.37 per cent. Whereas, overall apparel import by USA valued at US $ 33.11 billion, which is 5.93 per cent up from the same period of last year.
The figures tell China’s share in the US market has reduced to 27.38 per cent from 28.90 per cent in the corresponding period of prior year. This is important to understand how China has been behaving for last 5 years. China’s share to the US in Jan-May ’14 period (5 years before) was 32.10 per cent with US $ 9,872.52 million.
Over these 5 years, while USA has grown up in its import by 7.67 per cent, China has gone down by 8.16 per cent in its exports to USA all due to rising FOB prices as well as recent fluctuations caused by US-China trade war.
The biggest beneficiaries in this situation are Vietnam and Bangladesh which saw double-digit growth in their respective exports to USA. During the review period, Vietnam shipped US $ 5,305.13 million (up 12 per cent) worth of apparels to USA, while Bangladesh clocked US $ 2,553.25 million in its exports marking 15.48 per cent growth on the yearly note.
Indonesia has now been surpassed by India which now stands at 4th spot in top exporters’ tally to USA. India’s apparel export to USA stood at US $ 1,955.31 million (up 10.83 per cent) in the said period, a US $ 40.94 million more than that of Indonesia’s which could just hit US $ 1,914.37 million figure, tapping a minuscule growth of 1.32 per cent.