The value of apparel imports by the US dropped by 18 per cent to $5.52 billion in January ’21 as compared to $6.76 billion in January ’20. As per Apparel Resources, the import volume tumbled .70 per cent to 2.13 million SME in the first month of 2021. The unit prices of the imported apparels sunk by 11.64 per cent to $ 2.58 per SME in January ’21 as against $2.92 per SME in January ’20.
Imports from all major destinations such as China, Vietnam, Bangladesh, India and Indonesia tumbled in January, while those from countries such as Pakistan, Egypt, Ethiopia and Colombia improved on Y-o-Y basis. However, as compared to December ’20, the import values surged indicating a M-o-M recovery.
In January ’21, apparel imports by the US surged by 14.28 per cent from $4.83 billion worth of apparels imported in December’20.