In Q1 ’19, USA surged 6.06 per cent in its apparel imports as compared to the same period of the prior year. During the first 3-month period of 2019, USA imported apparels worth US $ 20.29 billion as against US $ 19.13 billion in the corresponding period of prior year. Among top 10 apparel exporting destinations, Bangladesh registered the highest percentage-wise growth though in value-wise earning from its exports, the country stood at 3rd rank in the tally.
Bangladesh exported US $ 1,571.65 million worth of apparels to USA in the said period with 16.12 per cent growth. Vietnam stayed ahead of Bangladesh with US $ 3,233.27 million worth of exports, marking 13.55 per cent surge on the yearly note. Both the countries got a boost in volume-wise exports as Vietnam jumped 12.75 per cent while Bangladesh escalated by 11.85 per cent on Y-o-Y basis.
China, on the other hand, slashed its price margins to tap more orders from USA and sustain for longer term, amid the ongoing trade war scenario. As a result, China witnessed increased volume (0.85 per cent) of orders coming from the US buyers, whereas the import value by USA from China plunged by 0.70 per cent to stand at US $ 5,735.32 million in the review period.
Indonesia, which has continuously been falling since months, experienced growth this time. The country marked 5.76 per cent surge to export apparels worth US $ 1,204.45 million to USA. India too noted a growth of 12.07 per cent to ship US $ 1,159.56 million worth apparels. India compressed the gap with Indonesia which has now remained just US $ 44.89 million and India is expected to bridge this gap in next two months.