USA has fallen by 30.68 per cent in its apparel imports during January-July ’20 period, according to the latest data released by OTEXA.
AS analysed by Apparel Resources, USA imported US $ 33.87 billion worth of garments in YTD till July ’20, which is US $ 14.90 billion less than what is imported in the same period of 2019.
However, the import of apparels of USA has sharply increased by 51.13 per cent in July ’20 over June ’20. This is the highest monthly surge of USA in 2020, which can be attributed to the retail market recovery in the country.
USA imported US $ 6 billion worth of garments in July ’20 as against US $ 3.97 billion in June ’20. Despite surge in July ’20, the import level is still far away from being normal if compared by July ’19. The RMG import of the country was down by 32 per cent in July ’20 on Y-o-Y basis.
All major Asian apparel manufacturing hubs noted M-o-M growth while fell on Y-o-Y.