Among the top ten markets, textiles, and apparel shipments from the US to the Netherlands rose by 13.65 per cent to $325.998 million, and to Belgium/Luxembourg they increased by 36.80 per cent to $261.406 million in the first eight months of 2023. Exports to the United Kingdom also grew by 8.73 per cent. In contrast, shipments to the Dominican Republic, Canada, China, Guatemala, Nicaragua, Mexico, Honduras, and Japan declined by up to 25.36 per cent. During this period, the US supplied textiles and apparel worth $4,635.681 million to Mexico, followed by $3,683.205 million to Canada and $892.122 million to Honduras.
Category-wise, apparel exports saw a marginal increase of 0.03 per cent year-on-year to $4,862.009 million. Fabric exports fell by 5.54 per cent to $5,626.695 million between January and August this year. Exports of yarn, made-up articles, and miscellaneous items also saw reductions, decreasing by 9.51 per cent to $2,822.281 million and 8.97 per cent to $2,570.194 million, respectively.
US textile and apparel exports increased by 9.77 per cent to $24.866 billion in 2022, compared to $22.652 billion in 2021. In recent years, these exports have consistently ranged between $22 and $25 billion annually. Specifically, the export value stood at $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)
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