According to OTEXA, US imports of clothing from India decreased significantly in May 20. In May the nation imported 19.63 million SME garments, worth 62.98 million dollars, from India.
The US imported $387.32 million of SMEs’ apparel during the same month of 2019. The decrease in volumes and 83,74% of values recorded in May ’20, therefore, was Y-o-Y at 82.45%.
The decline was also significant in May ’20 over April’ 20, with Indian shipments declining in volumes monthly and in value by 70.17% and 71.44%. This was the biggest decline in the list of exports of clothing to the USA.
Towards a total of 27,08% in value in January-May 20, the decline in India ‘s clothing shipment was $1,424.63 million compared to $1,953.74 million for the same duration of the previous year.
It is worth noting here that in January-May ’20, the US imported apparel worth $23.92 billion, with an annual decrease of 27.76%.
In the 2020 comparison period, Indian unit prices for shipping to the US also dropped to USD 3.50 from USD 3.56 in 2019 and dropped 1,74%.
The Indian shipment of apparel from the USA weakened the lock-down in April and May. The Indian factories began operation from the first week of June and will be reflected in the following months.