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Bangladeshi exporters of apparel to the United States have remained more resilient than peers during the pandemic, with shipments in the three months to April 30 down by just 1.6 per cent compared with the same period of 2019, according to New York City-based trade data company Panjiva's June 2020 research.
In contrast, exporters from India and Sri Lanka dropped shipments by 10.1 per cent and 6.4 per cent respectively, while total US imports fell by 5.3 per cent.
Bangladeshi apparel manufacturers suffered a wide range of order cancellations from retailers across Europe and the Americas, as revealed by Panjiva's June 2020 data.
Panjiva's US seaborne import data shows there was a recovery to pre-pandemic levels in May this year with a growth of 6.2 per cent versus May 2019. While most of the imports of apparel from Bangladesh are handled by freight forwarders for off-brand products, there are signs of a mixed set of strategies from the major brands.
Panjiva was acquired by S&P Global in 2018.
Shipments linked to H & M Hennes & Mauritz AB (publ), for example, increased by 13.5 per cent in the three months to May 31 compared with the same period of 2019. Imports associated with Levi Strauss & Co. and PVH Corp., meanwhile, fell by 47.8 per cent and 68.7 per cent respectively over the same period, according to a press release from S&P Global.
The renewed spread of COVID-19 and resulting lockdown in Bangladesh will also have an impact on industrial supply chains as factories will likely have to close and may suffer reduced productivity, it said.
Fibre2Fashion News Desk (DS)
Bangladeshi apparel exporters to the United States have remained more resilient than peers during the pandemic, with shipments in the three months to April 30 down by just 1.6 per cent compared with the same period of 2019, according to Panjiva. In contrast, exporters from India and Sri Lanka dropped shipments by 10.1 per cent and 6.4 per cent respectively.