so urcingjo urnalo nline .co m https://www.so urcingjo urnalo nline.co m/china-lo ses-share-o f-us-apparel-impo rts-to -vietnam-and-bangladesh-in-ih-2013/
China Loses Share of US Apparel Imports to Vietnam and Bangladesh in IH 2013 Judith Russell
Helped by relatively low labor costs, apparel imports f rom Vietnam and Bangladesh grew f aster than those f rom China and India in the f irst half of 2013. Vietnam now has a more than 10% share of U.S. apparel imports which, though much smaller than China’s 33.8% share, is growing the f astest, on both a dollar and unit (square meter equivalent basis), of all the key apparel trading partners. Imports f rom the Caribbean Basin Initiative countries grew by over 14% to $386 million, $383 million of which were f rom Haiti. Imports f rom the still-earthquake-ravaged nation were up by 15%, and consisted primarily of cotton t-shirts and underwear. Imports f rom other CBI countries were f lat, on average. Total apparel imports grew 3.2% on a dollar basis through June compared to the same period last year, according to the most recent data published by the US Department of Commerce’s Of f ice of Textiles and Apparel. Total unit volume, measured on a square meter equivalent basis, increased 5.8% in the year-todate period, driving the average cost per SME down by 2.5%. Imports f rom China have increased by only 2.4% on a dollar basis so f ar this year, slower than the overall apparel import growth rate of 3.2%. Gains in women’s and girls’ cotton tops and pants, manmade f iber men’s tops and women’s blouses, and bras and other intimate apparel were of f set by declines in many other categories. China had the second largest share loss of U.S. apparel imports in the f irst half , af ter Mexico. Vietnam maintained its strong number two position as an apparel trading partner with 10.2% of the year-todate total, thanks to increases in manmade f iber dresses, women’s woven and knit tops and men’s manmade f iber knit shirts. Total apparel imports f rom Vietnam so f ar this year are $3.7 billion, up 12.5% f rom last year. T he cost per SME of apparel imported f rom Vietnam f ell by only .5% in the month. Beleagured Bangladesh has gained .3 points of US apparel market share in the f irst half of 2013, to 6.8% of total apparel imports. Despite the concerns over f actory saf ety, it is now the f ourth largest source of US apparel, and may soon rival Indonesia f or the number three spot.
T he US has imported $36.4 billion worth of apparel so f ar this year. Overall, cotton apparel imports have risen 1%, while those of man-made f iber apparel have increased by 8%. Imported apparel of wool, silk and other f ibers have declined. Mexico, Honduras and India have also suf f ered signif icant share losses in U.S. apparel. Both CAFTA and OECD lost share to ASEAN and CBI.