US' textiles & apparel exports down 5.17% to $21.8 bn in Jan-Nov 2023

The exports of textiles and apparel from the US decreased by 5.17 per cent to $21.846 billion in the period between January and November 2023, compared with $23.036 billion during the same months in the previous year, according to data released by The Office of Textiles and Apparel (OTEXA), a division of the US department of commerce. 

Among the top ten markets, the textiles and apparel shipments from the US to the Netherlands rose by 12.69 per cent to $450.680 million, and to Belgium/Luxembourg, they increased by 13.61 per cent to $324.515 million in the first eleven months of 2023. Exports to the United Kingdom also grew by 1.54 per cent. Additionally, the outbound shipments to China increased by 5.18 per cent during the period. 

In contrast, shipments to the Dominican Republic, Canada, Guatemala, Honduras, and Japan declined by up to 26.54 per cent. During the eleven-month period, the US supplied textiles and apparel worth $6,402.881 million to Mexico, followed by $5,112.881 million to Canada, and $1,201.816 million to Honduras. The shipment to Mexico inched up by 0.70 per cent in the period. 

Category-wise, apparel exports saw a marginal decrease of 0.51 per cent year-on-year to $6,774.642 million. Fabric exports fell by 5.60 per cent to $7,697.233 million between January and November this year. Exports of yarn, made-up articles, and miscellaneous items also saw reductions, decreasing by 10.21 per cent to $3,824.563 million and 6.91 per cent to $3,549.673 million, respectively. 

Last year, US textile and apparel exports increased by 9.77 per cent to $24.866 billion, compared with $22.652 billion in 2021. In recent years, these exports have consistently ranged between $22 billion and $25 billion annually. Specifically, the export value was $24.418 billion in 2014, $23.622 billion in 2015, $22.124 billion in 2016, $22.671 billion in 2017, $23.467 billion in 2018, and $22.905 billion in 2019. The figure plummeted to $19.330 billion in 2020, largely due to the pandemic. 

ALCHEMPro News Desk (KUL)