As per Team Apparel Resource, Vietnam may soon emerge as the largest apparel exporter to the USA once COVID-19 subsides. After analysing the apparel trade trend in the first two months of 2020 and forecasting for rest of the year. In January-February 2020, Vietnam exported apparels worth $2.38 billion to the US, marking 3.50 per cent growth. This accounted for 18.80 per cent of total apparel imports by the US.

Vietnam’s share in the US apparel market was 16.17 per cent in the corresponding period of 2019 and this indicates the share has significantly surged in 2020. On the other hand, China, the largest apparel exporter to the US, shipped apparels worth $2.69 billion with a drastic fall of 40.66 per cent. China accounted for 21.25 per cent of total apparel imported by USA in the first 2 months of 2020.

China’s share has reduced massively as it was 31.92 per cent in the same period a year earlier. COVID-19 outspread has caused a major setback for the Chinese shipment coupled with trade war which is collectively deciding the business remapping now. Adding to this, according to various reports, buyers are moving away from China and finding alternative destinations to place orders.

Not just buyers, a great number of US firms located in China have also decided to leave the country. The survey conducted by QIMA recently, about 80 per cent of the US companies will leave China.