Free Trade Agreement (FTA) countries apparel export share to the USA has risen to 16% to $11.16 billion compared to other non-FTA nations in January to October 2021 calendar year period.
As per the recently published OTEXA data the FTA nations export an annual 28.30% growth. Showing that FTAs have been an important substance in increasing exports of LDCs or the purchasing country’s preferred trade partners, specifically in USA’s case which is the major apparel importing nation.
Among the FTA nations export, the Dominican Republic and Central America exported around $5.37 billion in US import values under the CAFTA-DR agreement from January to October 2021, as against $4.03 billion compared to the same period last year.
While Mexico exported $2.30 billion worth of apparel in the period.
Canada’s apparel export to the USA under FTA worth $0.381 billion,
Among Latin American nations Peru exported $0.573 billion worth of apparel to the USA under FTA, while Colombia exported $0.198 billion and Chile exported $0.04 billion in January to October 2021 period.
OTEXA data also showed that other major FTA destinations like Israel, Jordan and South Korea jointly exported $1.32 billion.