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US apparel imports to increase 1.04 per cent in 2017

Apparel Resources’ forecasts the US will significantly improve apparel imports in 2017, in terms of volumes. The country may record a 1.04 per cent rise in volume terms during the January to December 2017 period. The largest apparel importer in the world may import 27,164.17 million SME of apparels during the review period when compared to 26,927 million SME in the prior-year period. In addition, the US is likely to put a hold on rising import values in 2017 and note a 0.68 per cent decline on Y-o-Y basis. The UVR for the said period is estimated to be US $ 2.95 as against US $ 3.00 in the same period of 2016.

China’s a leader as the apparel powerhouse to the US is expected to see a drop from January to October period, China recorded a surge in volume of exports by 1.93 per cent; however, the country dropped the unit prices of apparel to enable it to stay competitive in international markets. Apparel Resources’ predictions indicate China’s export of apparels to the US valued at $27.04 billion would drop by 3.14 per cent on the Y-o-Y basis in December 2017. India and Vietnam, on the other hand, are likely to gain in both volume and value terms to the US during January to December 2017 period. Vietnam is set to record $11.43 billion (up by 5.79 per cent) from its apparel exports in the year 2017 ending 31st December.

India is expected to see a marginal rise of 1.79 per cent (with an export value of $3.70 billion in 2017 as against $3.64 billion in 2016) in its apparel exports value to the US. Through 2017, Bangladesh’ apparel exporters faced many challenges such as the fluctuation in the currency value (appreciation of Taka against US dollar), longer shipping time, the rise in production cost and safety issues which pushed the country towards the declining trend in the US clothing market.

 
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