Not just apparels, USA has fallen in its fabric imports also in January to April 2020 period. According to OTEXA, the country imported US $ 1.83 billion worth of fabrics, declining by 11.37 per cent on Y-o-Y basis.
However, volume-wise, the drop was not too much and USA imported 4,023.27 million SME of fabrics which is 4.85 per cent less than what it had exported in the same period of 2019.
As far as major exporting destinations are concerned, China plunged significantly in both volumes (353.06 million SME) and values (US $ 934.09 million) by 23.07 per cent and 29.30 per cent, respectively.
Korea Republic, the second largest fabric exporter to USA, fell in its value-wise fabric exports but shipped more volumes of fabrics than the last year. Noting 8.22 per cent surge, Korea Republic shipped 416.67 million SME fabrics to USA worth US $ 180 million which fell 6.16 per cent.
India too fell by 4.21 per cent to ship 531.72 million SME of fabrics to USA in the review period and clocked US $ 155.18 million revenue which is 6.78 per cent less than the same period of 2019.
There are certain non-traditional fabric exporting countries such as Cambodia, Myanmar, Indonesia, Australia, Malaysia and Denmark which registered huge growth in their volume-wise fabric exports to USA. Some of these even noted growth in value-terms.
Cambodia shipped 65.84 million SME fabrics to USA marking a whopping 77.16 per cent growth on Y-o-Y basis, while the values upped by 49.40 per cent to clock US $ 10.86 million.
Another South East Asian country Myanmar scaled up its fabric exports to USA from practically almost nothing to 8.53 million SME, noting a staggering 1,410.66 per cent growth on Y-o-Y basis. The value of shipment stood at US $ 1.57 million, which is 574.61 per cent growth on the yearly note.
