As per Apparel Resources, the apparel imports by Canada declined on both Y-o-Y basis and M-o-M basis in September ’20, owing to uncertain market conditions as analyzed and reported by Apparel Resources recently.
There were only two countries – India and USA – in top 10 importing destinations of Canada which marked growth in September over August this year; every other major shipper fell in its shipment to Canada.
India surged by 2.09 per cent in Sep. ’20 over Aug. ’20 to ship US $ 17.86 million worth of garments to Canada. However, the country could tap yearly growth and fell by 17.64 per cent as compared to Sep. ’19, making a recovery of business by just 82.36 per cent on the yearly note.
As far as the US is concerned, the benefit of revised NAFTA (now USMCA), which came into light in August, can be seen! USA shipped 2.57 per cent more garments in value terms to Canada worth US $ 20.56 million in Sep. ’20 as compared to Aug. ’20.
China, the largest apparel shipper to Canada, fell by 28.91 per cent on monthly note to $ 344.88 million in Sep. ’20 as compared to Aug. ’20 and also declined by 6.56 per cent from September ’19 figures. The drastic fall in monthly value has also caused a sharp decline in the Chinese share to the Canadian market which has come down to 38 per cent in Sep. ’20 from 45 per cent in August ’20.
Bangladesh too plummeted by 7.61 per cent in Sep. ’20 on M-o-M basis to ship US $ 104.91 million worth of garments to Canada. The country was also down on Y-o-Y basis by 3.10 per cent in September. ’20.
