According to the most recent trade data available on Fibre2Fashion's market insight tool TexPro, the US saw a 34.27 per cent year-on-year decrease in apparel imports from China in the first quarter of 2023. Imports from China totalled $5.377 billion in Q1 2022, $4.122 billion in Q1 2021, $3.406 billion in Q1 2020, $5.846 billion in Q1 2019, and $5.860 billion in Q1 2018.
The US imported $3.288 billion worth of apparel from Vietnam in the first quarter of this year, which accounted for 16.84 per cent of total imports. Bangladesh followed with $2 billion (10.25 per cent), India with $1.339 billion (6.86 per cent), and Indonesia with $1.197 billion (6.13 per cent). Other major suppliers include Mexico (3.83 per cent), Cambodia (3.81 per cent), Honduras (3.02 per cent), Italy (2.81 per cent), and Nicaragua (2.74 per cent).
US apparel import values have been decreasing on a quarterly basis. In Q3 2022, imports were valued at $29.389 billion, dropping to $21.146 billion in Q4 2022, and further to $19.525 billion in Q1 2023. This downward trend was also evident in Q1 2022, with imports totalling $24.368 billion, as per TexPro.
The US placed restrictions on garments made from cotton produced in China's Xinjiang region in June 2022.
ALCHEMPro News Desk (KUL)
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