China loses US $ 9.39 billion (on Y-o-Y) in its apparel exports to USA till October ’20

The apparel import of USA from China in October ’20 has improved in volume-wise, while it has dropped value-wise on Y-o-Y basis – says OTEXA data.

The volumes of apparel imported from China got 11.20 per cent yearly boost to 1,028.39 million SME and it tumbled by 11 per cent value-wise to US $ 1.81 billion in October ’20 over October ’19.

The total contribution of China in US import values was 26.15 per cent which is down from October ’19 when China’s share stood at 27.28 per cent.

As compared to September ’20 figures, USA witnessed just a marginal decline of 0.55 per cent in its apparel import from China in October ’20.

The drop in values despite a rise in volumes of apparel coming from China is a clear signal of lowering unit prices and China’s unit prices hovered at US $ 1.75 per SME in October ’20 as compared to US $ 2.20 per SME in the same month a year ago.

Cumulatively in January to October ’20 period, China has noted a significant fall of 42.33 per cent in its apparel shipment values to USA and clocked US $ 12.79 billion export revenues losing US $ 9.39 billion revenues as compared to the same period of 2019.