The USA has slightly improved in its apparel imports during the first quarter of 2018. During the first 3 months, the USA was up in both values and volumes by 1.63 per cent and 1.71 per cent, respectively.
The country spent US $ 19.23 billion on the import of 6545.91 million square metres of apparel in the reporting quarter as against 6435.76 million square metres in the same period last year.
However, unit prices neither decreased nor increased (US $ 2.94) which helped the USA keep the balance between the imported apparels and the dollars spent on it.
Of all the major export destinations, China and Vietnam scored well in their respective exports to the USA though the former (China) lost its share by 2.34 per cent in the US market. In the first 2 months of 2018, China had 32.51 per cent share in the US apparel market which sharply declined to 30.17 per cent by the end of the first quarter.
On the other hand, Vietnam exported apparels to the US worth US $ 2.86 billion, marking 3.32 per cent surge on the yearly note. However, Vietnam too lost its share in the US apparel market as it tapped 14.86 per cent share in overall US apparel imports in the latest quarter as against 15.26 per cent share in the previous year.
Markedly, India and Indonesia lost big in the top five apparel exporters to the US. India plunged significantly both in values (0.79%) and volumes (2.53%), whereas Indonesia’s exports dropped by 5.78 per cent and 8.26 per cent in value and volume, respectively.
In the last quarter of its FY 2018, India could only export apparels to the US worth US $ 1.036 billion as against US $ 1.044 billion in the same quarter of FY 2017. Down falling exports from India is a serious concern for the exporters who were hoping to end India’s fiscal year 2018 on a positive note.