USA has plunged by 29.52 per cent in its apparel imports during January-August ’20 period, according to the released data by OTEXA.
Further analysed by Apparel Resources, the largest apparel importer in the world imported US $ 40.38 billion worth of apparels year-till-date (YTD) till August ’20.
In COVID-19-hit year the overall imports, in terms of values, fell short by US $ 16.88 billion as compared to the imports done in the same period of 2019.
As far as August ’20 is concerned, USA tumbled by 22 per cent on Y-o-Y basis as it imported US $ 6.56 billion worth of garments in the month of August this year, while the value was US $ 8.45 billion in August ’19.
It’s worth recalling here that July ’20 was the best month for USA in 2020 when it registered over 51 per cent monthly growth in its RMG imports and the growth has continued in August – though not as big as in July.
Upon comparing August ’20 import data with July ’20, the import has gone up by 9.33 per cent and that’s a positive sign.
Except Bangladesh and Myanmar, no other country could tap growth in its apparel exports to USA in August ’20 on Y-o-Y basis.
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