USA economy faced the worst phase in April and May due to coronavirus spread but it seems Vietnam remained unaffected in its kidswear export to its largest market and tapped growth in April ’20 when all other exporting destinations fell flat.
The export of kidswear of Vietnam to USA upped by 34.50 per cent and valued at US $ 16.53 million in April this year as compared to US $ 12.29 million in the same period of the prior year.
The growth has come at a time when USA has seen a drop of 38.14 per cent on yearly basis to import US $ 80.72 million worth of kidswear from world over.
It’s a fact that Vietnam’s factories never closed its doors entirely during COVID-19 – except some factories – as the country hasn’t been affected due to pandemic. The infected cases till May were right under 400 and no death was reported, which kept the morale of the industry high and they produced the pending orders in their factories.
China’s shipment reduced to US $ 16.41 million in April ’20 from US $ 48.18 million in April ’19, noting a massive fall of 65.94 per cent on Y-o-Y basis.
India too experienced a fall of 33.87 per cent to ship US $ 12.58 million kidswear to the US market as against US $ 19 million in the same month of 2019.
India still managed to see growth cumulatively in Jan.-Apr. ’20 period by 13.65 per cent as the country witnessed surge till Q1 ’20 by 26.64 per cent in kidswear exports to USA.
As far as Bangladesh is concerned, the country declined by 24.22 per cent to clock US $ 7.61 million revenue in its kidswear export to USA during the month of April. Cumulatively, Bangladesh, just like India, recorded growth of 27.46 per cent as they got benefit of positive exports till March this year.