Canadian RMG imports recover by 99.86% in
August 20 as compared to August 19!
Canada has continued surging in its RMG import values in
August 20 by 17.92 per cent over July 20. August is the
3rd consecutive month since June 20 when Canada noted
growth in its apparel imports after falling drastically in
March and April this year due to market uncertainties
created by COVID-19.
In August 20, Canada imported US $ 1,053 million worth of
apparels as compared to US $ 893.79 million in the preceding
month, while that was just marginally down by 0.14 per cent
as compared to August 19, when its import valued US $ 1,055
Due to this continuous and strong M-o-M recovery, Canada has
almost recovered by 99.86 per cent in its import value as
compared to August 19. Cumulatively in Jan.-Aug. 20
period, Canada was still down by 23.74 per cent in its
apparel imports, clocking US $ 5.33 billion as compared to
US $ 6.99 billion in the same period of the previous year.
Though Canada has been seeing a good growth for last 3
months, the falling trend of its import value in 2019 after
July may put a barrier in subsequent months after August
20, if the negative trend continues even in 2020.
Its worth recalling here that Canada witnessed a sharp
decline in August-November period of 2019. With a COVID-19
wave returning to North America and some European countries
(some of which are major shippers to Canada), the growth of
Canada in its apparel imports is still uncertain for a long
run in 2020.