India’s apparel export values have plunged 25.41 per cent in Jan.-Nov. ’20 period to clock US $ 11.07 billion revenues, as against US $ 14.84 billion in the same period of 2019.
The top 5 destinations for ‘Made in India’ garments in a pandemic-affected year are USA, UAE, UK, Germany and Spain as these countries collectively contributed 59.44 per cent of total Indian RMG export values.
India shipped US $ 2.97 billion worth of garments to USA which is the largest apparel export destination for the country, declining 24.80 per cent on Y-o-Y basis.
Apparel shipment to UAE valued US $ 1.38 billion, which is less than half to what India shipped to its top market, in Jan.-Nov. ’20 period and declined 17.25 per cent.
UK imported US $ 1.02 billion worth of apparels from India in the said period, decreasing by 30.64 per cent on Y-o-Y basis, while the shipment to 4th largest market Germany made India earn US $ 714.80 million with a yearly decline of 22.72 per cent.
As far as Spain is concerned, the exports dropped by 31.33 per cent to US $ 485.60 million in the review period.
AR will also let its readers know the countries where India has seen growth in its apparel exports during the Jan.-Nov. ’20 period. Stay connected.