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China's fall , India's Gain

Written By Views maker on August 14, 2008 | 8/14/2008

Official US statistics show that the country imported textiles and apparel worth $24.37 billion during Jan-June 2008, a 5.1% drop compared to $25.7 billion in the corresponding year-ago period. From 2004 to 2007, the country's imports rose from $ 46.93 billion to $ 53.12 billion. India, Vietnam, Cambodia and Bangladesh are among the few countries whose exports of textile and apparel to the US rose during the first six months of 2008 while the world's biggest economy goes through a downturn.

India's exports to the US in the first six months this year remained barely changed at $1.42 billion from $1.41 billion while Vietnam's grew to $824 million from $668 million. Bangladesh's shipments went up to $832 million from $811 million.
The value of Chinese textile exports, on the other hand, fell from $9.7 billion to $ 9.5 billion, while Pakistan was down to $1.42 billion ($1.68 billion) and Sri Lanka $ 201 million ($ 245 million). Turkey clocked exports of $264 million from $313 million in the first six months of 2007. However, China, Pakistan, Sri Lanka and Turkey have seen a slowdown in off-take from their US suppliers amid a drop in the value of the country's textile and apparel imports.

In January-June, the value of India's Textile shipments to USA remained unchanged but there was a notable fall in the export of textile and apparel from China to the United States, is sparking hopes of a shift in US orders from the world's most populous nation to this country.