Denim apparel imports by USA picked up by 58.67 per cent in July ’20 over June ’20 and valued US $ 309.79 million, according to OTEXA.
However, on Y-o-Y basis, the imports of denim apparels fell 24.38 per cent in July ’20, whereas the fall was 35.26 per cent in terms of YTD figures, which stood at US $ 1.39 billion in January-July ’20 period.
The YTD data suggests China has lost its ground in denim apparel shipment to USA in 2020 and the country was down by 63.23 per cent (worst fall among all denim shippers) to US $ 169.82 million as against US $ 461.88 million in January-July ’19 period, sliding down to 4th spot in 2020 from 2nd spot in 2019.
In June ’20, Bangladesh surpassed Mexico to become the top denim apparel exporting country to USA and it further increased the gap with Mexico even in July ’20. Bangladesh’s denim apparel shipment to USA valued US $ 64.13 million (the highest value among all countries) in July ’20 which is 120 per cent more than the figure of June ’20.
As far as YTD data is concerned, Bangladesh was still down by 16.98 per cent (US $ 254.27 million) on Y-o-Y basis which should not worry the country’s exporters as M-o-M recovery is quite fast.
Vietnam’s positive performance continued in July ’20 as well when it upped its denim apparel shipment by 55.08 per cent on M-o-M basis as it valued US $ 49.16 million as against US $ 31.70 million in June ’20.
In YTD figures, Vietnam saw marginal surge of 0.14 per cent on Y-o-Y basis to clock US $ 192.72 million from its denim apparel shipment to USA. Notably, Vietnam remained ahead of China in tally.