Bangladesh RMG export to USA positive (Y-o-Y) for the first time in 2020; taps 15.70% growth in August ’20

 

August ’20 has been a positive month for countries like Bangladesh, Pakistan, Myanmar and Lesotho in their respective apparel shipment to USA, while other major shippers such as India, China and Vietnam could not see any positive turnaround on Y-o-Y basis, according to OTEXA data and analysis of Apparel Resources.

The latest data shows that Bangladesh remained the biggest beneficiary with US $ 594.76 million worth of apparel shipment to USA in August ’20, marking 15.70 per cent growth over August ’19. As compared to preceding month (July ’20), Bangladesh grew by over 36 per cent signalling a fast recovery both on monthly note and on yearly basis.

This Y-o-Y growth of Bangladesh has come for the first time in 2020 which is severely hit by COVID-19.

Cumulatively in January-August ’20, Bangladesh clocked US $ 3.48 billion in its apparel shipment to USA, noting 14.56 per cent fall on yearly note.

As far as India is concerned, the speculations of strong order recovery have been there for quite some weeks now, but US import data doesn’t go well with these speculations. India fell by 18 per cent in its apparel export to USA in August ’20 as compared to August ’19 to clock US $ 256 million.

On M-o-M comparison with July ’20, there has been a surge of 20 per cent in August ’20, which is nowhere near to the surge it noted in July ’20 (87.93 per cent) over June ’20.

China continued falling on Y-o-Y basis! US imported US $ 1.82 billion worth of apparels from China in August ’20, which is 41 per cent lower than what it was in August ’19. On M-o-M basis, China however grew by around 15 per cent as compared to July ’20.

Vietnamese shipment to USA too remained negative on the yearly note in August ’20 as it dropped by 1.20 per cent to US $ 1.25 billion. The South East Asian country was also down on monthly note (as compared to July ’20) by 3.10 per cent.

 

 

MKMA/4220/apparelresources/081020

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