US textiles & apparel imports up despite global economic slowdown

Within textiles, apparel constituted the bulk of the imports by the US in January-September 2022, amounting to $78.856 billion, while non-apparel imports accounted for $25.094 billion, according to the latest Major Shippers Report, released by the US department of commerce. 

Segment-wise, among the top ten apparel suppliers to the US, imports from Indonesia and India shot up by 54.66 per cent and 53.39 per cent year-on-year, respectively. Imports from Bangladesh and Cambodia too grew by 50.98 per cent and 46.58 per cent, respectively. Additionally, imports from Pakistan, which is among the top 10 suppliers to the US, registered a growth of 40.11 per cent compared to the same period of the previous year. 

In the non-apparel category, among the top ten suppliers, imports from Cambodia soared by 65.29 per cent year-on-year. Imports from Vietnam and Italy too climbed by 29.34 per cent and 20.65 per cent, respectively. On the other hand, imports from Turkey dipped by 11.03 per cent. 

Of the total US textile and apparel imports of $91.733 billion during the period under review, man-made fibre products accounted for $53.302 billion, while cotton products were worth $45.115 billion, followed by $3.288 billion worth of wool products, and $2.244 billion worth of products from silk and vegetable fibres. 

In 2020, the US textile and apparel imports had decreased sharply to $89.596 billion compared to imports of $111.033 billion in 2019, mainly on account of the COVID-19 pandemic induced disruption. But imports rebounded again in 2021 to reach $113.938 billion, thus surpassing the pre-pandemic levels. 

ALCHEMPro News Desk (KUL)