The apparel import of Canada in the first half of 2020 tumbled, as expected, due to COVID-19. However, the latest monthly data of June ’20 has brought some cheers to the industry!
Cumulatively in the first half of 2020, Canada fell by 28.89 per cent in its apparel imports which valued at US $ 3.35 billion as against US $ 4.72 billion in H1 ’19.
After falling till May ’20, Canadian apparel retail market has started picking up from June ’20 on monthly basis, thanks to the fading pandemic. The country witnessed 67.50 per cent growth over May ’20 to import US $ 557.81 million worth of garments.
However, despite this good surge, the import level is still far away from what Canada valued in June ’19, and the fall recorded on Y-o-Y basis in June ’20 was 34.81 per cent.
All major apparel shippers to Canada – India, China, Vietnam, Cambodia, Bangladesh, USA and Italy – noted monthly growth in June ’20 over May ’20, but fell on yearly basis as compared to June ’19 as well as cumulatively in H1 ’20 over H1 ’19.
China, the top shipper to Canada, upped its apparel export by 60 per cent in June ’20 over May ’20 to ship US $ 202.95 million worth of garments. The yearly drop in June ’20 was 34.17 per cent, while the total decline in H1 ’20 noted was 34 per cent.
Vietnam too noted a massive surge of 85.92 per cent in June ’20 over May ’20 and clocked US $ 77.90 million from its apparel exports to the USA. However, on half-yearly basis, shipment from Vietnam plunged by 16.76 per cent.
Bangladesh’s monthly growth in June ’20 was 74.62 per cent and the revenues it clocked were US $ 46.56 million. On the other hand, India’s shipment to Canada valued at US $ 12.43 in June ’20 which is 102.80 per cent higher than what it had exported to Canada in May ’20.
Among top 15 exporting destinations to Canada, Romania was the only country which noted growth in June ’20 both on M-o-M basis (293 per cent) and Y-o-Y basis (62.26 per cent) to clock US $ 7.50 million revenues.