US' home textile exports dip 23.7% to $14.4 bn, steep fall in made-ups

The global slowdown in home textiles is evident from the United States' imports, the world's largest economy and one of the biggest consumers of various finished consumer products. The US saw a 23.77 per cent decrease in home textile imports, amounting to $14.456 billion in the first three quarters of 2023. The import of made-ups, a key item in the home textiles category, declined by 27.68 per cent to $4.114 billion. This downward trend follows the surge in demand during the COVID year of 2020. 

The US imported $18.964 billion worth of home textiles from January to September 2022, with the total for the year reaching $23.990 billion. The peak was in 2020, with imports hitting $34.209 billion, up from $19.741 billion in 2019. However, this figure fell to $26.151 billion in 2021, according to Fibre2Fashion's market insight tool TexPro. 

In the January-September 2023 period, made-ups were valued at $4.114 billion, accounting for 28.46 per cent of total home textile imports. Their import had soared by 328.08 per cent to $17.807 billion during the same period in 2020, compared to $4.149 billion in the corresponding period of 2019. However, there was a 68.62 per cent decrease to $5.588 billion in 2021, and a further drop to $4.114 billion in the first three quarters of 2023 from $5.688 billion in the same period of 2022, as per TexPro.

During January-September 2023, the US import of beds was valued at $3.506 billion, representing 24.26 per cent of the total import. Additionally, floor imports were $1.955 billion (13.53 per cent), bathroom and kitchen textiles $1.821 billion (12.60 per cent), and window textiles $1.062 billion (7.35 per cent). 

ALCHEMPro News Desk (KUL)