The consumers in the USA are back on streets in 2021 for shopping after a dreadful 2020…And, as a result, the apparel imports of USA have revived in H1 ’21 period!
USA imported US $ 35.38 billion worth of apparels in January to June ’21 period noting 26.92 per cent Y-o-Y surge.
All major apparel shipping countries have seen increase in their respective exports to USA in H1 ’21 and this growth has come because of two reasons – consumers in the USA are not reluctant to purchase clothing products now as they were in 2020; and USA Government has released stimulus package to every family so that they get financial help.
China still remains at top of the tally with US $ 7.31 billion worth of apparel shipment to USA in H1 ’21, accommodating 20.68 per cent of total apparel import value of USA that has remained technically unchanged from H1 ’20 when China’s share was 20.70 per cent.
This negligible change, at the time when USA increased sourcing in 2021, clearly indicates other manufacturing destinations have successfully grabbed opportunity as sourcing is moving away from China.
Vietnam’s share reduced to 19.25 per cent in H1 ’21 from 20.28 per cent in H1 ’20, although it has noted a significant rise of 20.45 per cent to clock US $ 6.81 billion worth of apparels to USA.
Bangladesh, the third on the list, has also remained unchanged in its percentage-wise share to the overall USA apparel import values. The share of Made in Bangladesh garments to USA stands at 8.85 per cent in H1 ’21, with no change at all from H1 ’20. Bangladesh shipped US $ 3.13 billion worth of garments to USA, noting 26.81 per cent yearly growth.
What’s noteworthy is India’s performance as it has surpassed Indonesia to become the 4th top apparel exporter to USA. India has also increased it export share from 5.55 per cent in H1 ’20 to 5.75 per cent in H1 ’21.
See table below to know how top 10 countries fared in US market during H1 ’21 –
Volume-wise Apparel Exports to USA from Top 10 Countries:
(Volume in million SME)
Source – OTEXA
(Courtesy – Apparel Resources)
Value-wise Apparel Exports to USA from Top 10 Countries:
(Values in US $ million)