Nov 28, 2020 in Coursework

The U.S. Apparel Import Trends

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Introduction

International trade is of great importance to every country around the world. To meet its needs, a country will either import or export different goods depending on the national demand. The United States is a major player in international trade. Over the years the country has been importing several goods from different countries around the globe. One of the main items that the U.S.A has been importing from Vietnam and Bangladesh is apparel. For the last ten years, the trend and magnitude of apparel import have been changing from time to time. It is, therefore, important to carry out an analysis of the apparel import trend and magnitude to the U.S.A from the two countries in the time period of 2002 to 2012. This paper will, therefore, be concerned with providing an evaluation of the trading features between the U.S.A, Vietnam, and Bangladesh for the last ten years.

Trading Data and Analysis

Some observations can be made from the data in table 1 below. The US apparel import volumes are different in the two countries. The United States has been importing higher volumes of apparel from Vietnam from 2003 to 2012 as compared to the import figures from Bangladesh. For instance, in 2003 the U.S. imported apparel from Vietnam worth $US 2375 million in contrast to $US 1848 million from Bangladesh in the same year. Despite changes in time, the trend between the two countries has not changed. For instance, in 2012 U.S.A imported apparel worth $ the US 7101 million from Vietnam, while it imported apparel worth $US 4470 million from Bangladesh in the same year. Figures in this table are in $ US millions.

Country

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Vietnam

2375

2562

2725

3222

4359

5223

5068

5877

6644

7101

Bangladesh

1848

1978

2372

2914

3103

3442

3410

3930

4510

4470

Table 1. US apparel import volumes from Vietnam and Bangladesh

Figure 1 indicates that for the last ten years from 2003 to 2012, the trading volumes of the U.S.A apparel import from Vietnam have been on the rise. The volumes have increased from $ 2375 million in 2003 to $7101 million in 2012. Despite the upward trend, in 2009 Vietnam experienced a downward trend when the U.S.A imported apparel worth $ 5068 million. This downward trend in that year can be attributed to the financial crisis, which lowered the demand for apparel products in the U.S.A, thus making the manufacturers lower their production activities. Due to a reduction in production activities, the import volume also reduced (Rosen, 2002). In the following year, the country experienced an upward trend due to the improved economic situation in the U.S.

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