U.S. Travel Goods Imports Continued to Fall in First Eleven Months of 2020, Led by Declines in Imports from China
On January 7, the U.S. government published import data for November 2020. U.S. travel goods imports (as described under HTS Heading 4202 – click links to get specific import data on luggage, backpacks, flatgoods, handbags, business cases/laptop bags, and travel bags) slid 22.8% (by volume) in the first eleven months of 2020. In addition to the obvious impact of COVID-19 on the industry, the latest import numbers show the accelerating trend away from China. In the first eleven months of 2020, U.S. travel goods imports from China fell 35.4%, with China accounting for only 57.6% of total U.S. travel goods imports. For comparison, in 2016, China accounted for 84.7% of all U.S. travel goods imports. Meanwhile, despite the pandemic, U.S. travel goods imports from #2 supplier Vietnam (12.3%), #3 Cambodia (9.3%), and #4 Burma (Myanmar) surged in the first eleven months of 2020. In fact, U.S. travel goods imports from Vietnam now account for 19.3% of all U.S. travel goods imports, followed by #3 Cambodia (7.2%), #4 Burma (Myanmar) (3.9%), #5 India (3.4%), and #6 Indonesia (1.4%). U.S. imports of travel goods account for approximately 99% of the U.S. travel goods market.