It is important to note that the average price fell below the level seen during 2020. This indicates slower demand and significant pressure on the margins of exporters and manufacturers.
According to Fibre2Fashion's market insight tool TexPro, US shirt imports amounted to $8.303 billion in 2023, with an average price of $77.54 per dozen. Both the value and average price of imports were down. The year 2022 is known for a surge in garment demand following the pandemic. The US imported shirts worth $9.078 billion that year, with an average price of $79.06 per dozen. Both the value and average price peaked in recent years.
The average price of shirts imported by the US was $73.62 per dozen, which fell to $71.89 per dozen in 2020. The price rebounded to $74.05 per dozen in 2021 and reached a high of $79.06 per dozen in 2022, according to TexPro.
The total value of shirt imports was recorded at $8.563 billion in 2019. It dropped to $5.645 billion in 2020 but recovered to $6.004 billion in 2021. It reached a high of $9.078 billion in 2022 when the value of inbound shipments surged by 51.19 per cent compared to the previous year.
The total quantity of shirt imports by the US was 75.937 million dozen in January-July 2024, compared to 107.082 million dozen in 2023. The country imported 116.309 million dozen shirts in 2019, which dropped to 78.539 million dozen in 2020. This quantity increased to 81.084 million dozen in 2021 and 114.834 million dozen in 2022.
ALCHEMPro News Desk (KUL)
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