USA saw a drastic fall of 55.50 per cent in its denim apparel imports in April ’20 as the shipment value plunged to US $ 112.24 million as against US $ 251 million in April ’19.
April was the most crucial month for the US as coronavirus wreaked havoc in the country; forcing businesses to stay shut and thereby import was already predicted to decline.
Mexico’s denim apparel shipment to USA has almost come down to standstill with just US $ 5.18 million value, marking 92.17 per cent fall. This dip allowed Bangladesh to surpass Mexico and become top denim apparel exporter to USA, at least for a while now.
Cumulatively in Jan.-Apr. ’20 period, Bangladesh noted a growth in denim apparel export to USA by 14.68 per cent with shipment value of US $ 149.50 million – the best among all countries.
Bangladesh’s denim apparel export to USA experienced double-digit growth till February; however, the decline started from March which peaked in April. The country shipped US $ 26 million worth of denim apparels to USA in April, plunging 26.11 per cent on yearly note.
On the other hand, China’s denim apparel export to USA valued just US $ 6.50 million in April this year and encountered a drop of 85.61 per cent on Y-o-Y basis.
Vietnam too noted growth cumulatively in Jan.-Apr. ’20 period by 20.26 per cent, exporting US $ 100.34 million worth of denim apparels to USA. However, when it comes to April, Vietnam’s position is as same as the other countries.
In April ’20, Vietnam tumbled by 28.32 per cent to ship US $ 13.97 million worth of denim apparels to USA.
What’s interesting is the performance of Cambodia. Though shipment value (US $ 8.46 million) is not huge, the country witnessed a surge of 37.79 per cent in April ’20 over April ’19.
Now all eyes are on May as the retailers in the USA gradually started opening their stores and the footfall of the shoppers resumed, somehow.