Swimwear might be a category that has been witnessing a decline in the US market this year; it certainly is a growing export product for countries such as Vietnam, Bangladesh, Sri Lanka, Jordan and Egypt.
Recent data from January-August ’20 released by OTEXA says that USA has declined by 19.24 per cent in its swimwear imports from the same period of 2019 and valued US $ 643.27 million.
China lost the largest share as it plunged by 43.45 per cent to ship US $ 202.78 million worth of swimwear to USA in January-August ’20 as against US $ 358.59 million in the corresponding period of the previous year.
Analysing the data further suggests that the Chinese orders of swimwear are shifting to other countries as USA’s decline in the import of this category is much less than the decline China noted in its exports.
Bangladesh seems to be one beneficiary with 75.20 per cent yearly growth in its swimwear exports to USA during the first 8-month period. The country clocked US $ 14.12 million in its exports in January-August ’19 period, while it increased to US 24.73 million in the same period of 2020.
Jordan, the largest manufacturing destination in MENA region, took great jump to see 189.80 per cent yearly growth in its swimwear exports to USA which totalled US $ 30.63 million.
Vietnam, Sri Lanka and Egypt too surged by 8.07 per cent, 7.73 per cent and 27.60 per cent, respectively, to ship swimwear to USA worth US $ 164.13 million, US $ 36.46 million and US $ 23.51 million.