Vietnam's share in US apparel imports rises over last 5 years

Trade data obtained from Fibre2Fashion's market insight tool TexPro, revealed that the US imported apparel worth $13.857 billion in 2019, which constituted 15.87 per cent of its total apparel imports of $87.327 billion. Vietnam was the second-largest supplier after China, which accounted for 30.26 per cent of the total imports. Interestingly, Vietnam benefitted in the US market from China's loss in market share. China's share decreased to 24.39 per cent in US apparel imports during January 2024.

In 2023, US apparel imports totalled $81.581 billion, with Vietnam's inbound shipments valued at $14.424 billion, representing 17.68 per cent of the total. Similarly, the US imported apparel worth $105.284 billion in 2022, the peak year of trade in the last five years. Vietnam's share was 17.91 per cent, amounting to $18.861 billion during the period, according to TexPro.

US apparel imports from Vietnam were $15.077 billion (17.29 per cent) in 2021, when the total apparel imports amounted to $87.197 billion. US apparel imports recovered in 2021 after a dip in 2020 when the COVID pandemic disrupted global trading activities. In 2020, the US imported apparel worth $71.072 billion, with imports from Vietnam valued at $13.179 billion, which constituted 18.54 per cent of the total. US apparel imports decreased in 2020 from $87.327 billion in 2019 but quickly recovered post-pandemic.

ALCHEMPro News Desk (KUL)