U.S. Travel Goods Imports Fall in First 8 Months of 2020 with Imports from China Way Down
On October 6, the U.S. government published import data for August 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 23.2% (by volume) in the first eight 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 eight months of 2020, U.S. travel goods imports from China fell 37.4%, with China accounting for only 58.3% 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 (16.4%), #3 Cambodia (30.7%), #4 Burma (Myanmar) (152.4%), and #8 Mexico (10.4%) surged in the first eight months of 2020. In fact, U.S. travel goods imports from Vietnam now account for 18.4% of all U.S. travel goods imports, followed by #3 Cambodia (7.8%), #4 Burma (Myanmar) (3.7%), #5 India (3.2%), and #6 Indonesia (1.5%). U.S. imports of travel goods account for approximately 99% of the U.S. travel goods market.