Saturday, 24 September 2016

Import Analysis of Denim in USA and EU

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      Key highlights of the denim imported into USA and EU can be analysed by understanding trade trends. Import of knitted apparel (HS61) in EU-27 grew at CAGR of 5.7% during 2005-13 and reached 44.19 USD billion .China is a leading supplier of EU contributing 37% followed by Turkey , Bangladesh, India ,TunisiaGermany, UK, France, Italy, Spain are key importers within EU-27 constitute more than 50% of imports of  HS61 denim commodities.Import of apparel & accessories (not knitted denim) in EU-27 grew at CAGR of 16.9% during 2005-13. Top 5 sourcing partners are China, Turkey, Tunisia, India, Bangladesh.These 5countries contributes 69% of the total imports in this category. Import of HS63 commodities in EU-27 rose at CAGR of 5.4% during 2005-13. Germany, UK, France are top importers contributing 85% in this category. China is a top exporter alone contributes about 39% of total imports in this segment .
     Total import HS61 commodities in USA reached 45.1Bln USD; China is the largest sourcing partner with 36% share while Vietnam is a emerging partner, Trade with other key players is influenced by Free trade agreements . US imports of HS62 commodities declined at CAGR of -0.4% during 2005-14,Sourcing from China declined while sourcing from Mexico has increased due to duty preferences and geographical location.U S imports of HS63 commodities has increased at CAGR of 3.5% with China, Pakistan ,India, Mexico, Turkey together contributing 86% of the total import in this category . Sourcing from Pakistan, India, Mexico, Turkey is increasing mainly due to increasing sourcing cost from China
       Import of HS61 denim into EU27 and USA .Import rose at CAGR of 5.7% during 2005-2013 & reached 44.19 USD billion for EU27 with China as a leading supplier contributing 37% ;Germany ,UK, France emerged as a key destinations.Import of knitted apparel grew at CAGR of 5.7% during period 2005-13. China is the EU’s largest source of textile imports by far, ahead of other important partners such as Bangladesh and Turkey contributing 37% of the total import in this segment Germany , UK, France, Italy, Spain together constitute more than 50% of import.  About 30% of India's textile exports go to the EU, with Germany and the UK accounting for the largest share.  Export from Bangladesh has been growing due to favourable duty structure such as ‘GSP benefits under the LDC quota under which export of 20% of its goods with zero tariff while 70% have a preferential rate policy
        The same commodity shows CAGR of 1.8% during 2005-2010 & CAGR 4.3 form 2010-2014 & shown CAGR of 2.9% during 2005-14 in USA . China’s share as a sourcing partner of USA has increased from 25% in 2005 to 36% in 2014. USA has FTA with Mexico, Hondurus, Salvador,& Cambodia which allows import of HS61 commodities at preferential rates. Sourcing from Vietnam increased at CAGR of 11% from 3.5 Bln USD in 2010 to 5.4 Bln USD in 2014 . Total import in this segment reached 45.1Bln USD; China is the largest sourcing partner with 36% share while Vietnam is a emerging partner, Trade with other players is influenced by Free trade agreements.
     Import of HS62 denim into EU27 and USA. Import rose at CAGR of 16.9% during 2005-2013 & reached 44.5 USD billion with top 5 sourcing nations contributes 69% of the total imports in this category Import analysis of HS62 commodities into EU-27. Top 5 sourcing partners viz. China, Turkey, Tunisia, India, Bangladesh contribute about 69% of total import in EU-27 in this category. Turkey has been the major partner of EU union only after china mainly due to richness in basic raw materials, geographical proximity to main European markets , Short logistics period due to geographical proximity, skilled labour, Customs Union agreement with the European Union.
     US imports in this category declined at CAGR of -0.4% during 2005-14,Sourcing from China declined while sourcing from Mexico has increased due to duty preferences and geographical location Import analysis of HS62 commodities into USA. Though China dominates as a sourcing partner, the total import value has decreased from 14.7 bln USD in 2010 to 14.3 bln USD in 2014 mainly because rising cost in China. Sourcing from Mexico has increased since 2010 particularly because of duty preferences granted by US government & geographical proximity. India ,Indonesia, Bangladesh ,India are other major exporter in this segment due to low manufacturing cost. Vietnam’s export increased at CAGR of 11.4% and is expected to rise further with signing of proposed Trans-Pacific Partnership (TPP) agreement.
     Import of HS63 denim into EU27 and USA. Import rose at CAGR of 5.4% during 2005-2013 with Germany UK, France are top importers contributing 85% while China is a top exporter alone contributes about 39% of total imports in this segment Import analysis of HS63 commodities into EU-27. This segment shows CAGR of 7.5% during 2005-2010 & CAGR 2% form 2010-2013 & shown CAGR of 5.4% during 2005-13. China alone contributed 31% ,42% & 39 % in year 2005,2010 and 2013 respectively. Germany UK, France are top importers in European Union contributing 85% , imported textiles of 8.6bln USD in year 2013.  Pakistan performs well compare to India as a key exporting partner due to duty-free duty free imports while ~10% import duty is applicable to India. China, Turkey, India ,Pakistan Bangladesh are top sourcing countries contributed 81% of the total imports into EU in this category.
     The US import of home textile rose at CAGR of 3.5% during 2005-2014 . Share of top 5 sourcing countries (China, Pakistan ,India, Mexico, Turkey) together contributing 86% of the total import in ths category has increased from 75% in 2005 to 86% in 2014.  China alone contributed about 53% of the total import in this category. China’s maintains significant advantage over other supplier in economies of scale , infrastructure, efficiency, expertise and stability.  Rise in sourcing from Pakistan, India, Mexico, Turkey due to increasing sourcing cost from China which is mainly due to rising labor cost in china leading to rise in overall production cost.


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