In January-February, China exported $3.36 billion worth of textiles and apparel to the US, up 67% from $2 billion in the comparable period in 2004. Indian exports during the period jumped 25% to $737 million.
For Chinese firms, realisation per unit of apparel export, slid 27 cents to $2.81 per sq m, compared to $3.08 in January-March 2004. India, on the other hand, saw an increase of 14 cents to $3.74 per sq.mtr in realisation. However, for all exports (apparel and fabric), there was an increase in realisation of 11 cents for both players to $2.06 for India and $1.39 for China.
In quantity terms, US apparel imports from China (excluding Taiwan, Macau and Hong Kong) nearly doubled to 1,115 million sq m, while imports from India grew 30% to 213 million sq m. Amongst major exporters, India recorded the second fastest growth after China.
It may be noted that during the whole of the calendar 2004, growth in Chinese exports to US was 30%, double that of growth in corresponding Indian exports. Bangladesh, the second largest apparel exporter to the US after China, saw a 20% increase in the post-MFA period to 247 sq m.